﻿myApp.controller('UsefulInfoController', function ($scope, $http, DUMMY_DATA, $filter, $location, $rootScope) {
    $scope.$emit('newPageLoaded', {
        'title': 'Useful Property Info | ShiJie Property',
        'description': "Useful Property Info. We Work Very Closely With Developers. Over 40 Years Experience. Discover The Latest Useful Property Info Today!",
        'keywords': 'useful property info, useful info in property'
    });
    //$scope.$emit('newPageLoaded', { 'title': 'Penang Realty 世界地產 Useful Info', 'description': 'First hand property info. Updated instantly.' });

    $scope.isAndroid = $rootScope.isAndroid;
    pageInit();

    $scope.sortOption = "Sorted by Latest to Oldest";


    var BASE_URL;
    if ($location.host() == "localhost") {
        BASE_URL = $location.protocol() + "://" + "localhost:" + $location.port();
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        BASE_URL = $location.protocol() + "://" + $location.host();
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    $scope.getShareURL = function (p) {
        //  return (BASE_URL + "/property/" + p.propertyid + "/S" + p.Zoning[0]);
        return (BASE_URL + "/info/usefulInfo/detail/" + p.InfoId);
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    $scope.getShareTitle = function (p) {
        return p.Title;
    }

    $scope.getShareDescription = function (p) {
        return p.Details;
    }

    $scope.getShareImageURL = function (p) {
        return (p.PropertyURL || "http://www.penangrealty.my/images/penang realty,Apartment,house,condominium,terrace house,semi d,detached,bungalow,high end luxury properties,landed properties,gated guarded house.png");
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        //$scope.$apply();
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                $scope.sortKey = '-CreateDate';
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            case 1:
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                $scope.sortKey = 'CreateDate';
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            case 2:
                $scope.sortOption = "Sorted by Area (A to Z)";
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            case 3:
                $scope.sortOption = "Sorted by Area (Z to A)";
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    $scope.submitForm = function (obj) {
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            method: 'POST',
            url: url,
            data: $(obj.target).serialize(),
            headers: { 'Content-Type': 'application/x-www-form-urlencoded' }
        }).success(function (data) {
            alert("Thanks for Subscribing to our Newsletter!");
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     $scope.changeFormat = function(obj){
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    function pageInit() {
        if (DUMMY_DATA == true) {
            var dummyData = [{ "InfoId": "90323f35-0875-42fe-8b52-45271af9c75b", "Title": "TNB - Apply electricity ", "Source": "Tnb", "Details": "Apply by Tenant\n\nA.Personal\n1) photocopy of ic of tenant\n2) stamped tenancy agreement\n3) if tenant not free,aothorizatipn\n letter to authorise a person to apply and the photocopy ic of the authorised person\n4) duty stamp RM 10\n5) Deposit\n\nB. Company/enterprise\n1) Stamped tenancy agreement\n2) directors photocopy ic \n3) form 9 & 49 /SSM \n4) company chop\n5) authorised letter if directors not free or for association ..\n6) photocopy ic of the person      authorised \n7) duty stapmed RM 10\n8) Deposits\n\n\n\n", "CreateDate": "2016-05-23T15:49:16.463", "UpdateDate": "2016-05-23T15:50:43.803", "StatusDelete": 0, "PropertyURL": "https://farm8.staticflickr.com/7456/26913816770_1b33fc1495_m.jpg" }, { "InfoId": "13d91ed8-7dab-4bfb-acc6-6f9c41f7885a", "Title": "PBA - documemts needed to apply waterwater ", "Source": "PBA", "Details": "Apply by Owner\n\nA. Personal\n1) latest asessement bill or \n2) Sales & Purchase Agreement \n3) photocopy IC \n4) stamp duty RM 10 \n5)authorization letter if the owner or the director not free to apply\n6) photocopy IC of authorised person\n7) deposit RM\n\nB.Company\n1) directors photocopy ic\n2) latest assessment bil or\n3) Sales & Purchased Agreement\n4) Form 9 & 49\n5) company chop \n6) authorization letter if the owner or the director not free to apply\n7) photocopy IC of authorised person\n8) deposit RM\n9) stamp duty RM 10\n\nApply by Tenant\n\nDocuments needed to give by owner\n1) no objection letter from owner\n2) latest assessment bill or\n3) sales & purchased agreement\n4) photocopy IC of owner or director if the owner is company\n5 owner company form 9 and form 49 needed\n\nDocuments needed to prepare by tenant \n\nA. Personal\n1) stamped tenancy agreement\n2) photocopy IC of Tenant\n\nB. Company\n1) directors photocopy ic\n2) latest assessment bil or\n3) Sales & Purchased Agreement\n4) Form 9 & 49\n5) company chop \n6) authorization letter if the owner or the director not free to apply\n7) photocopy IC of authorised person\n8) deposit RM\n9) stamp duty RM 10\n10) stamped tenancy agreement\n\n", "CreateDate": "2016-05-23T14:26:23.453", "UpdateDate": "2016-05-23T14:48:56.067", "StatusDelete": 0, "PropertyURL": "https://farm8.staticflickr.com/7472/27154190896_24fcc1bb37_m.jpg" }, { "InfoId": "0e67d63c-ebf2-4594-a80b-88e681238231", "Title": "to avoid the liability of non-payment on the registered account owner - Change of tenancy", "Source": "TNB", "Details": "Change of tenancy \n\nTo ensure the person occupying the premise is also the person liable for the electricity bill. This is done by changing the name of person paying the electricity bill of an existing TNB account. It is highly advisable to do so when there is a change of premise occupier, to avoid the liability of non-payment on the registered account owner.\n\nFor an example, you can change the account name on the electricity bill of your rented premises to the tenant's name. The tenant will then be responsible for the payment of the electricity bill every month and the landlord will not be held liable should the tenant vacate the premise without paying the electricity bills.\n\nTo change the name, please complete the Change of Tenancy Form * and bring it to the Kedai Tenaga (Customer Service Centre) where your account is registered together with the following items:\n\nOne copy of your Identity Card\nOne copy of your Sales & Purchase Agreement or Tenancy Agreement (or any proof occupancy)\nDeposit: two months of electricity depending on the type of premises – to be paid by cash or cheque\nStamp Duty RM10 to be paid at our Kedai Tenaga\n\nProcessing fee of RM3.00\n*Change of Tenancy Form can be obtained at any Kedai Tenaga or be downloaded here:\n\nChange of Tenany / Termination of Account Form\nAkujanji untuk Pemilik Akaun Berdaftar Telah Meninggal Dunia", "CreateDate": "2015-07-22T16:52:04.5", "UpdateDate": "2016-05-23T14:43:38.467", "StatusDelete": 0, "PropertyURL": "https://farm8.staticflickr.com/7629/26582367574_e104f84dee_m.jpg" }, { "InfoId": "b0bab78f-7fb9-43eb-9bdb-e68ed3311d45", "Title": "WITHDRAWAL TO PURCHASE A HOUSE", "Source": "EPF", "Details": "PURPOSE\nThis withdrawal allows you to withdraw your Account 2 savings to finance the purchase of a house.\nWithdrawal to purchase a second house is allowed after the first house is sold or disposal of ownership of property has taken place. Disposal of\nownership refers to ‘loss of ownership of the first house owned through previous EPF withdrawal’ either due to auction, surrender of property by\ncourt order, transfer of ownership because of love and affection, destruction of house due to natural disaster, abandoned housing project or\ncancellation of purchase.\nAPPLICATION ELIGIBILITY\n(i) A Malaysian Citizen; OR\n(ii) A Malaysian Citizen who has made Leaving the Country Withdrawal before 1 August 1995 and has opted to re-contribute to the EPF; OR\n(iii) A Non-Malaysian Citizen who:\nHas become an EPF member before 1 August 1998; OR\nHas obtained a Permanent Resident status (PR).\nYou have not reached 55 years of age at the time the EPF receives your application; AND\nYou have at least RM500.00 of savings in Account 2.\nTERMS OF WITHDRAWAL\nYou are eligible to apply if:\n1. You buy or build a residential house (type: bungalow / terrace / semi-detached / apartment / condominium / studio apartment / service apartment /\ntownhouse / SOHO) or a shop lot with residential unit.\n2. The purchase is financed through:\n(i) Housing loan from any of the institutions as follows:\nFinancial Institutions licensed under the Banking and Financial Institutions Act 1989 (BAFIA)\nCentral / State government or any other government financial agencies\nMember’s employers\nCooperatives / Cooperative Companies with license (approved by Malaysian Cooperative Commission, Ministry of Entrepreneur and Cooperative\nDevelopment)\nLicensed insurance companies approved by the Central Bank of Malaysia\nLoan providers allowed by the EPF\nOR\n(ii) Cash purchase.\n3. You have signed the Sale and Purchase agreement of not more than three (3) years at the time your application is received by EPF.\n4. You have never made a Housing Withdrawal; OR you have made a withdrawal to purchase your first house and have sold the house or disposal of\nownership has taken place and subsequently buy a second house. Proof of sale / disposal of ownership of the first house must be submitted.\n5. You intend to buy a house which has been acquired from a rental with a view of purchase agreement from a party authorised by EPF.\n6. You have bought a land and built a house on the same land simultaneously (dates of the agreement to purchase the land and the agreement to\nconstruct the house must be within 6 months).\nYou are not eligible to apply if you:\nBuy a land or a house lot only\nRenovate, repair or do additional work to the existing house\nOwnership of property is not via sale and purchase transaction\nHave taken an overdraft loan\nBuy a third house\nBuy a house abroad\n\nWITHDRAWAL AMOUNT ELIGIBLITY\nYou can withdraw your savings as follows:\n\nHOUSE PURCHASE OWNED BY INDIVIDUAL\nThe difference between the house price with the loan amount and an additional 10% of the house price\nOR\nAll your savings in Account 2.(Whichever is lower but not less than RM500.00)\n\nJOINT PURCHASE WITH SPOUSE OR IMMEDIATE FAMILY MEMBER OR OTHER INDIVIDUAL\nThe difference between the house price with the loan amount and an additional 10% of the house price\nOR\nAll the savings in each purchaser’s Account 2 subject to the maximum\namount eligible for withdrawal.(Whichever is lower but not less than RM500.00)\n\n100% HOUSING LOAN \n\n10% of the house price\nOR\nAll your savings in Account 2.(Whichever is lower but not less than RM500.00)\n\nPURCHASE WITHOUT LOAN / CASH PURCHASE\nHouse price with an additional 10% of the house price\nOR\nAll your savings in Account 2.(Whichever is lower but not less than RM500.00\n\nYou may choose to decide on the amount to withdraw from your Account 2, subject to the maximum amount eligible by filling in the desired amount\nin the Housing Withdrawal Form (KWSP 9C) (AHL).\nYou may have made a housing withdrawal previously but have cancelled the purchase of the house. In this situation, the withdrawal amount need\nnot be returned. The current eligible amount will be deducted from the amount previously withdrawn subject to the eligible balance (if any).\n\nLIST OF REQUIRED DOCUMENTS\nNO. MAIN DOCUMENTS\n1. KWSP 9C (AHL) Withdrawal Form.\n2. Personal Identification Card\na. MyKad / Military Identification Card / Permanent Resident Identification Card (MyPR)\nOR\nb. Police Identification Card AND Verification Letter from Employer stating that the Police number and Identification Card number refer to\nthe same person (if without MyKad)\nOR\nc. Passport. If the member is not a Malaysian citizen and has become an EPF member before 1 August 1998.\n3. Payment Via Direct Crediting to Member’s Bank Account\nBank Passbook / Savings Account Statement OR Current Account Statement OR Verification Letter of Account Holder’s Details from Bank\nOR Account Holder’s Details Printed via Website OR Bank Account Holder’s Card\nNote:\nOwns an account with the panel bank appointed by EPF\nThe bank account must still be active and Personal Account type only\nHowever, Joint Account type is only allowed for withdrawal amount of more than RM100,000.00\n(Please bring original documents for verification)\n4. Payment Via Mail\nApplication for Member’s Registration and Amendments of Member’s Particulars (KWSP 3).", "CreateDate": "2015-07-21T19:38:13.69", "UpdateDate": "2016-05-23T14:37:25.907", "StatusDelete": 0, "PropertyURL": "https://farm1.staticflickr.com/391/19696190070_0263264814_m.jpg" }, { "InfoId": "3c2cb7ac-210c-4d76-a353-d9521b1f9dfe", "Title": "Commercial Property More Than RM2 Million have to Registered for GST in Malaysia  ", "Source": "https://www.3ecpa.com.my/taxation-and-gst/commercial-property-more-than-rm2-million-have-to-registered-for-gst/", "Details": "Custom Malaysia has updated silently the DG’s Decision 4/2014 Item 6 and the amendments were effective from 28 October 2015. This DG’s decision clarifies the GST treatments for Individual supplies commercial properties i.e. whether an individual has to charge GST when making a supply of his commercial property?\n\n \nWhat the implications from the amendments?\nBased on the previous DG’s Decision, any individual person is considered as carrying out business if make a supply of more than two commercial properties or commercial land exceeding 1 acre and is liable to register with GST if his total annual taxable supply exceeds RM500,000.\n\nSo long as you supply less than three commercial properties or commercial land not exceeding 1 acre, it would be treated as not carrying out business even if the sale is more than RM500,000 in a 12 months period.\n\nHowever, the above mentioned amendments added one more criteria (i.e. commercial property or commercial land worth more than RM 2 million ringgit at market price) to determine when a person is considered as carrying out business of supply of commercial property.\n\nAny individual that supplies commercial property or commercial land worth more than 2 million ringgit at market price after 28 October 2015 shall liable to register for GST. Any late registration will be subject to penalty based on number of days late which capped at RM20,000\n\nLate Registration Period (Days)\tCumulative (RM)\n1 – 30\t1,500\n31 – 60\t3,000\n61 – 90\t4,500\n91 – 120\t6,000\n121 – 150\t7,500\n151 – 180\t9,000\n181 – 210\t10,500\n211 – 240\t12,000\n241 – 270\t13,500\n271 – 300\t15,000\n301 – 330\t16,500\n331 – 360\t18,000\nExceeding 360\t20,000\n \n\nPlease refer below on the full contents of original and amended DG’s Decision 4/2014 Item 6\n\n Original DG’s Decision 4/2014\nGST shall be charged by a taxable person in the course or furtherance of business on any taxable supply of goods or services made in Malaysia (section 9 GSTA).\nTaxable person means any person who is or is liable to be registered under the GSTA (section 2 GSTA). A person is liable to be registered if his total taxable supply of the current month and the next eleven months exceeds RM500,000.\nAny individual owning commercial property at any one time –\nmake a supply of two commercial properties or commercial land not exceeding 1 acre would be treated as not carrying out business even if the sale is more than RM500,000 in a 12 months period;\nwould also be treated as not carrying out business if there is no intention of making a supply;\nmake a supply of rental services on such property is liable to be registered when the turnover for such supply exceeded the threshold amount of RM500,000.\n \n\nDG decision 4/2014 (amended 28 October 2015)\nGST shall be charged by a taxable person in the course or furtherance of business on any taxable supply of goods or services made in Malaysia (section 9 GSTA).\nTaxable person means any person who is or is liable to be registered under section 2 GSTA. A person is liable to be registered if his total taxable supply of the current month and the next eleven months exceeds RM500,000.\nAny individual who is not a GST registered person is treated as carrying out a business if he at any one time owns – (wef 28/10/2015)\nmore than 2 commercial properties;\nmore than one acre of commercial land; OR\ncommercial property or commercial land worth more than 2 million ringgit at market price;\nAny individual mentioned in paragraph (3) is liable to be registered as a GST registered person if – (wef 28/10/2015)\nhe has the intention to supply any of his commercial properties or commercial land; AND\nthe total value of such supply exceeds the prescribed threshold in 12 months periods.\n‘at any one time’ mentioned in paragraph (3) means at any point of time in his lifetime commencing after the effective date. (wef 28/10/2015)\nAny individual is treated as carrying out a business and making a supply of taxable service if: (wef 28/10/2015)\nhe is supplying any lease, tenancy, easement, licence to occupy or rent ; AND\nhis annual turnover for such supply has exceeded the prescribed threshold in the period of 12 months.", "CreateDate": "2016-04-09T14:34:49.47", "UpdateDate": "2016-04-09T14:35:42.943", "StatusDelete": 0, "PropertyURL": "https://farm2.staticflickr.com/1711/25718182673_81130c05d5_m.jpg" }, { "InfoId": "a749358a-9f63-40bb-af46-67cd667093e5", "Title": "Understanding charge as security instrument", "Source": "http://www.theedgeproperty.com.my/content/understanding-charge-security-instrument", "Details": "6th March 2016\n\nCHARGE is a common form of security registered in favour of the financial institution in exchange for the granting of a loan facility to the purchaser in financing the purchase of property. The financial provider is the chargee and the borrower is the chargor. In return for the financial assistance to the chargor, the registered charge on the property gives the chargee certain rights to protect this interest in the event of chargor default on the repayment of the loan instalment.\n\nWe have commonly heard the words “mortgage” and “charge”. Both words have been widely used interchangeably and this has blurred the distinction between them. However, there is a significant difference on where the title rests. For charge, the ownership of the property remains with the purchaser/chargor. The chargee has the right to register the charge on the title of the property. Once the loan, including all the interests, has been completely paid off, the charge shall be removed by the financial provider. On the other hand, a mortgage transfers the title of the asset to the lender as security for the loan. Such transfer is subject to an agreement between the lender and borrower. The agreement shall state that the lender will transfer the ownership back to the borrower once the loan is paid off. In Malaysia, we adopt the practice of charge.\n\nThere are two types of systems that govern the practice of charge: the “Torren System” and the “English Land System”. The Torren System gives a conclusive and indefeasible title or interest if the name of the person is duly registered on the title of the property. Indefeasibility of title means once the title or interest is registered, the right in the property cannot be void or defeated by any past event, error or omission. This is different from the English Land System where there may be equitable interest even if it was not duly registered or shown on the title.\n\nCharge under the Torren System\n\nMalaysia practises the Torren System, which is similar to Australia’s land system. This system significantly eases the job of Malaysians because we only have to check the title that comes with a complete list of registered title and interest. Hence, once the charge is duly registered, the financial provider has an indefeasible interest on the encumbered land or property.\n\nNevertheless, the above situation is only applicable if the title to the property has been issued by the relevant land office. In cases involving strata development, it may take years for a strata title to be released to each unit. If a borrower intends to obtain a loan by using the property as security consideration, the borrower is required to sign a loan agreement that comes with a deed of assignment. The deed of assignment is an agreement to assign all the owner’s rights to the financier. In simpler words, it is akin to a mortgage, where the financier is effectively the “owner” of the property until full settlement of the loan facility.\n\nAs for a company, it has the power to borrow or raise money if it is not restricted by its Memorandum or Article of Association. In this case, it is not only governed by the National Land Code 1956 but also the Companies Act 1965 (Companies Act). There are various ways for the company to gain funds in order to acquire property, and different types of security may be given to the borrower or investor. However, limited to acquiring property by securing a loan by using property as a security, the chargee has to register the charge at the land office and also fulfil the requirements laid down in the Companies Act. The Companies Act imposes a duty on the chargee to lodge Form 34 from the Companies Act with the Registrar of the Companies Commission Malaysia within 30 days of its creation; any late lodgement or failure to do so will result in a penalty of a RM1,000 fine plus any default penalty.\n\nPromoting a fair trading market\n\nA charge on the assets of the company in order to secure money borrowed by the company may be a fixed charge or a floating charge or a combination of both. The nature of the charge as security is an agreement between the borrower and the creditor. A fixed charge is a type of charge that charges one or more specific or ascertained and definite property of the company. The company will then be prevented from dealing freely with that property because it is subject to the interest of the chargee.\n\nOn the contrary, a floating charge is an equitable security on some or all of the company’s present and future property. Thus, a floating charge constantly fluctuates until something occurs which causes it to crystallise, whereupon it becomes a fixed charge. A floating charge is enforceable when it crystallises on the occurrence of certain events such as default of payment of interest and winding up of the company.\n\nEven though there are two different charges in the “company” context, the fixed charge is commonly used rather than the floating charge mainly because the floating charge is classified as an unsecured creditor and is harder to enforce.\n\nOn the side note, there is no difference in terms of documents to be signed when a company purchases a property without title.\n\nA charge is a facility of funding. Such facilities open the door of opportunities to individuals and companies. The Malaysian Law has carefully crafted a system to protect the interest of all parties in the process of funding. The system reveals encumbrances on the property, which promotes a fair trading market.\n\n\n", "CreateDate": "2016-04-01T18:13:02.35", "UpdateDate": "2016-04-01T18:16:28.467", "StatusDelete": 0, "PropertyURL": "https://farm2.staticflickr.com/1669/26167421305_15f3631530_m.jpg" }, { "InfoId": "f89551a6-8315-4ccd-9084-fff837611999", "Title": "Foreign Buyers Property guides", "Source": "internet", "Details": "Foreign Buyers Property guides\n\nLatest Property news 5th June 2012 - A quick update on the proposed guidelines to be implemented for foreign property purchase. \n \nFrom 1st July 2012 - The minimum limit of condo purchase will be\nraised to RM1 million and landed properties to RM 2 million BUT :\n \na) The MM2H participants are still allowed to purchase at\nRM500,000 threshold and limited to 2 purchases;\n \nb) Those holding Permanent Residence can purchase at RM250,000\nand above; and\n \nc) Transfers pursuant to distribution of Estate of deceased\npersons are not affected.\n\nEffective Date : 1 February 2014\n\nRM2 million on the island and RM1 million on the mainland for all types of property\n\n3% levy on non-citizens who purchase property in the state, in addition to the existing application fees of RM 10,000 (for individuals) and RM20, 000 (for companies).\n\nPenang[8]\n\nTo prevent the adverse effects of a property bubble and to attract genuine buyers rather than speculators,the Penang State Government has come out with their latest ruling in which come into effect on 1 February 2014, of imposing a 3% levy on non-citizens on the purchase price who purchase property in the state, to further curb speculation activities in addition to the existing application fees of RM 10,000 (for individuals) and RM20, 000 (for companies). The new ruling is gazette under Rule 83, Penang Land Rules on foreign state consent which has come into force on 1 February 2014.\n\nPenang’s housing rules from 1 February 2014 designed to protect Penang from being adversely affected by a property bubble as well as ensuring that public housing and affordable housing is bought by genuine purchasers who are qualified first time buyers from lower and middle-income groups.In Penang since 1 July 2012, state administration allowed foreign interests to only buy property worth more than RM1 million in Penang and RM2 million for the landed property on the island since July 2012 and remain the same. In addition, there is a 2% additional registration fees imposed on purchaser regardless of citizens or foreign interests on any property purchased after 1 February 2014 and sold within three years from the date of the Sales & Purchase Agreement (SPA).", "CreateDate": "2015-07-28T18:23:14.133", "UpdateDate": "2015-07-28T18:24:39.7", "StatusDelete": 0, "PropertyURL": "https://farm1.staticflickr.com/304/19459243284_cc70a1e1af_m.jpg" }, { "InfoId": "fe392720-2eab-4a22-b080-2c5ff03a6584", "Title": "Tenancy Agreement", "Source": "http://www.malaysianbar.org.my/conveyancing_practice/law_realty_tenancy_agreement.html", "Details": "A TENANCY agreement is defined as a contract signed by landlord and tenant which states all the terms and conditions of rent of a property. Tenancy is similar to a lease except that it is created for a term not exceeding three years. Unlike a lease, it cannot be registered.\n\nDeposits\n\nTenants usually pay a security deposit of two months’ gross rental and another month’s rent as utility (water and electricity) deposit. Rent is usually paid one month in advance. Therefore, if the rental is RM500, the amount payable upon execution of the tenancy agreement is RM2,000.\n\nThe rights of landlords and tenants\n\nThe landlord and tenant are bound by the terms of the tenancy agreement. Their rights are provided for in the said agreement. The principle of freedom to contract ensures a win-win situation for both parties provided that there is a consensus ad idem (“meeting of minds”). Therefore, it is not true that there is only one standard tenancy agreement. An astute person would ensure that the terms are not one sided. The practice in Malaysia is that the legal fees for the tenancy agreement are borne by the tenant. However, there is no hard and fast rule. The fees can be borne by a landlord providing that the lawyer is acting for the landlord and the tenant is unrepresented.\n\nTenancy agreements usually last a year to three years. Renewal with a possible rent adjustment must be mutually agreed upon. The usual practice is that the tenant is given the first option to renew the tenancy of which the tenant must give notice of such intention three months before the expiry of the tenancy.\n\nUsually, the tenant is prohibited from sub-letting the demised premises to another party. However, the tenant may be able to do so with the landlord’s consent.\n\nAnother pertinent point to look for by the landlord is the provision for a deposit for the breaking of wall(s) in the event the tenant is renting two or more contiguous units. A related issue is that the tenant must not make any alterations to the exterior or interior of the demised premises without the previous consent in writing of the landlord.\n\nThe tenant is supposed to yield up the demised premises with all fixtures and fittings belonging to the landlord upon the determination of the tenancy in good and tenantable repair and condition, fair wear and tear excepted. The tenant shall make good at their own expense any damage caused to the demised premises or fixtures and fittings therein as a result of the tenant’s act or neglect.\n\nThe landlord is supposed to pay all quit rent and assessment imposed or charged upon the owner of the demised premises; and to maintain upkeep and repair whenever necessary the roof, main structure, external walls, main drains and pipes of the demised premises.\n\nNotice of termination\n\nA notice of termination or notice to vacate must be given to the tenant within the period stated in the tenancy agreement before its expiration. The landlord has the right to vacant possession of the premises from the tenant without payment of any compensation.\n\nRecovery of possession\n\nEven though there is a term of the tenancy agreement which allows the landlord to evict the tenant and/or to recover possession of the demised premises upon the nonpayment of rent, the Malaysian legal system is pro-tenant. The landlord is prohibited from evicting the tenant and/or to recover possession of the demised premises without a court order. However, even if the landlord manages to eventually evict the non-paying tenant, the landlord finds it difficult to recover unpaid rents.\n\nSometimes, unscrupulous tenants would suddenly leave the demised premises without informing the landlord. When the landlord breaks the lock to take possession of the demised premises, the landlord is then slapped with a civil suit claiming for an astronomical amount for the landlord’s purported “self-help”.\n\nThe current practice now is for the landlord to lodge a police report and break the lock in the presence of a police officer in order to avoid further complications. A prudent landlord would even take photos of the interior of the demised premises to ensure that the tenant would not later claim loss of properties.\n\nThe writer is a member of the Conveyancing Practice Committee, Bar Council, Malaysia www.malaysianbar.org.my.\n\nNote: This column is brought to you by the Malaysian Bar Council for your information only. It does not constitute legal advice. You should, therefore, seek professional legal advice for your specific needs. Neither the Malaysian Bar nor the Sun Media Corp Sdn Bhd shall be liable to any reader who suffers losses as a result of relying on this column.\n", "CreateDate": "2015-07-21T11:42:15.033", "UpdateDate": "2015-07-21T11:42:19.12", "StatusDelete": 0, "PropertyURL": "https://farm1.staticflickr.com/446/19868313952_cb114d9edc_m.jpg" }, { "InfoId": "6eccc783-56aa-42b7-a813-31b233029a96", "Title": "GUIDELINE ON THE ACQUISITION OF PROPERTIES BY FOREIGNER (Effective 1 March 2014)", "Source": "EPU", "Details": "GUIDELINE ON THE ACQUISITION OF PROPERTIES\nI. INTRODUCTION\n1. The purpose of this Guideline is to clarify the procedure on the acquisition of \nproperties.\n  \nII.  APPLICATIONS\n2. This Guideline shall apply to the following transactions:\n2.1  All property acquisitions, except for residential units, that  require\napproval of  the Economic Planning Unit, Prime Minister’s Department\nas follows:\n(a) direct acquisition of property valued at RM20 million and above, \nresulting  in  the  dilution  in the ownership  of property held by \nBumiputera interest and/or government agency; and\n(b) indirect acquisition of property by other than Bumiputera interest \nthrough acquisition of shares, resulting in a change of control of\nthe company owned by  Bumiputera  interest  and/or government \nagency, having property more than 50 percent of its total assets,\nand the said property is valued more than RM20 million.\n2.2  All property acquisitions by foreign interest  that do not require the \napproval of  the  Economic Planning Unit, Prime Minister’s Department \nbut fall under the purview of the relevant Ministries and/or Government \nDepartments as follows:\n(a) acquisition of commercial unit valued at RM1,000,000 and above;\n(b) acquisition of agricultural land valued at RM1,000,000 and above \nor at least five (5) acres in area for the following purposes:\n(i) to  undertake agricultural activities on a commercial scale \nusing modern or high technology; or\n(ii) to undertake agro-tourism projects; or\n(iii) to undertake agricultural or agro-based industrial activities \nfor the production of goods for export.\n(c) acquisition of industrial land valued  at RM1,000,000 and above;Economic Planning Unit, Prime Minister’s Department\n____________________________________________________________________________ \n2\nand\n(d) transfer of property to a foreigner based on  family ties is  only \nallowed among immediate family members.\n2.3 Acquisition of residential unit by foreign interest valued at RM1,000,000 \nand above. This acquisition, however, does not require the approval of \nthe Economic Planning Unit, Prime Minister’s Department but falls under \nthe purview of the State Authorities.\nIII. CONDITIONS FOR ACQUISITION  \n3. Conditions for  the  acquisition of property as  described in  paragraphs 2.1 (a) \nand (b)  are subject to equity and paid-up capital conditions as follows:\nEquity Condition\n3.1 Companies  to  have at least 30 percent Bumiputera interest \nshareholding;\nPaid-Up Capital Conditions\n3.2  Local company owned by local interest to have at least RM100,000 paidup capital; and\n3.3 Local company owned by foreign interest to a have at least RM250,000 \npaid-up capital.\n4. Acquisition of property provided for in paragraphs 2.2 (a), (b) and (c) are also \nsubject to the condition that the said property must be registered under a locally \nincorporated company. \nIV.  COMPLIANCE PERIOD OF THE CONDITIONS\n5. For  direct acquisition of property, the  equity and paid-up capital conditions \nimposed by the Economic Planning Unit, Prime Minister’s Department must be \ncomplied with before the transfer of the property’s ownership. \n6. For  indirect acquisition of property, the  equity and paid-up capital conditions \nimposed by the Economic Planning Unit, Prime Minister’s Department must be \ncomplied with within one (1) year after the issuance of written approval.\n7. The conditions imposed on the acquisition of property in paragraph 2.2 must be \ncomplied with and notified to  the  Economic Planning Unit, Prime Minister’s \nDepartment before the property is transferred. Economic Planning Unit, Prime Minister’s Department\n____________________________________________________________________________ \n3\n8. Compliance of the equity and paid-up capital conditions must be notified to the \nEconomic Planning Unit, Prime Minister’s Department.\nV. EXEMPTIONS\n9. This Guideline SHALL NOT APPLY to transactions listed in Appendix I.\nVI. RESTRICTIONS  \n10. Foreign interest is NOT ALLOWED to acquire:\n10.1 Properties valued less than RM1,000,000 per unit;\n10.2 Residential  units under the category of low and  low-medium  cost as\ndetermined by the State Authority;\n10.3 Properties built on Malay reserved land; and\n10.4 Properties allocated to Bumiputera interest in any property development \nproject as determined by the State Authority.\nVII. PROCEDURES ON SUBMISSION OF APPLICATION\n  \n11. All applications must be submitted in accordance with the procedures described \nin Appendix II.\n12. Applicants are responsible for the accuracy of the information submitted.\nVIII. DECISION ON APPLICATION\n13. Decisions on all  complete applications will be given within  ten (10) working \ndays.\nIX. APPEAL\n14. Applicants must submit a completed UPE R/2009 form.\n15. All appeals pertaining to the decision of  the  Economic Planning Unit, Prime \nMinister’s Department will be considered based on the merit of each case.Economic Planning Unit, Prime Minister’s Department\n____________________________________________________________________________ \n4\nX. CORRESPONDENCE ADDRESS AND ENQUIRIES\n16. All applications that require the approval of the Economic Planning Unit, Prime \nMinister’s Department must be submitted to:\nEconomic Planning Unit,\nPrime Minister’s Department,\nLevel 5, Block B5,\nFederal Government Administrative Centre,\n62502 Putrajaya, Malaysia.\n17. Enquiries can be forwarded  to the  Economic Planning Unit, Prime Minister’s \nDepartment at:\nTel. No.  :  603-8872 5350/5576/5339\nFax No.  :  603-8888 2790\nE-mail : perolehan.hartanah@epu.gov.my", "CreateDate": "2015-07-28T17:41:13.153", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm1.staticflickr.com/479/20055683466_0880c8bf56_m.jpg" }, { "InfoId": "3184d2a3-391a-4bed-a18e-47250e55241a", "Title": "Stamp duty payable for purchased of a property", "Source": "http://www.malaysianbar.org.my/conveyancing_practice/law_realty_stamp_duty_payable.html", "Details": "A PURCHASER of a property, besides paying legal fees to his solicitors, will have to pay to the Collector of Stamp Duties stamp duty on the Sale and Purchase Agreement; the Memorandum of Transfer; and if he is taking a loan to finance the purchase of the property and charged the property as security, he will have to pay stamp duty on the facility or Loan Agreement and the Memorandum of Charge.\n\n(a) How to calculate the stamp duty payable\n\nThe stamp duty chargeable on the Sale and Purchase Agreement is RM10 each. With regard to the Memorandum of Transfer, the rates of the duty are as follows:-\n\nFor every RM100 or fractional part of RM100 of the contract price or the market value of the property, whichever shall be greater –\n\n(i) RM1 on the first RM100,000.00;\n\n(ii) RM2 on any amount in excess of theRM100,000 but not exceeding RM500,000; and\n\n(iii) RM3 on any amount in excess of RM500,000.\n\nFor example, the stamp duty on a Memorandum of Transfer for a property worth RM500,000 is calculated as follows:-\n\nFIRST RM100,000\tRM1 x RM100,000 ÷ RM100\n= RM1,000\nBALANCE RM400,000\tRM2 x RM400,000 ÷ RM100\n= RM8,000\nTOTAL STAMP DUTY PAYABLE:\n\nRM9,000\nIn case of the purchaser is taking a loan and charged the property as a security, it is common practice now to treat the Loan or Facility Agreement as principal instrument and the charge as subsidiary instrument. In the aforesaid circumstances, the principal instrument will be charged with ad valorem duty whereas the subsidiary instrument will be charged only RM10.\n\nThe ad valorem duty for the principal instrument of a loan is calculated at RM5 for each RM1,000 or part thereof. For example, if the loan is RM400,000, the stamp duty payable is calculated as follows:-\n\nRM5 x RM400,000 ÷ RM1,000 = RM2,000\n\n(b) When a document is to be stamped\n\nSale and Purchase Agreement, Loan or Facility Agreement and Charge executed in Malaysia are to be stamped within 30 days of their execution. If the Sale and Purchase Agreement, Loan or Facility Agreement and Charge are executed outside Malaysia, the time for stamping the same is 30 days after they have been first received in Malaysia.\n\nAs for the Memorandum of Transfer, it has to be sent to the Stamp Office for adjudication to determine whether the stamp duty is chargeable based on the contract price or the market value of the property. The Memorandum of Transfer shall be stamped within 30 days from the date of the notice of assessment.\n\n(c) Objection to the value assessed\n\nIn the event the market value assessed by the Collector of Stamp Duties is greater than the contract price, the stamp duty chargeable will be based on the market value instead of the contract price.\n\nIf the purchaser is dissatisfied with the assessment, he may object to the assessment by giving written notice to the Collector of Stamp Duties within 30 days from the date of assessment. The purchaser shall provide particulars and information to support his objection. The Collector of Stamp Duties may on review, cancel the original assessment if it appears to him that the original assessment is excessive and substitute with a fresh assessment or maintain the same assessment if it appears to him that the original assessment is not excessive.\n\nHowever, the purchaser, in making objection to the original assessment, is not relieved from paying the duty based on the original assessment within 30 days from the date of the original notice of assessment.\n\nTherefore, it would be advisable that the purchaser pays the duty under protest and at the same time pursue with the objection.\n\nIf he succeeds in the objection, he may recover the excess stamp duty paid from the Collector of Stamp Duties. If the purchaser is not satisfied with the review by the Collector of Stamp Duties, he may appeal to the High Court within 21 days after the purchaser is notified in writing the result of the review.\n\n(d) Penalty on document not stamped within time\n\nIf a document is not stamped within the timeframe, the purchaser will have to pay, in addition to the stamp duty payable, a penalty and the rates of the penalty are as follows:-\n\n(i) RM25 or 5% of the duty, whichever shall be greater, if the same is stamped within three months after the time of stamping;\n\n(ii) RM50 or 10% of the duty, whichever shall be greater, if the same is stamped later than three months but not later than six months after the time of stamping;\n\n(iii) RM100 or 20% of the duty, whichever shall be greater, if the same is stamped later than six months after the time of stamping.\n\nThe purchaser may appeal to the Collector of Stamp Duties for reduction of penalty and the Collector of Stamp Duty may consider the purchaser’s appeal if he thinks fit.\n\n(e) Consequences of a document not duly stamped\n\nA document which is not stamped or insufficiently stamped is not void or unenforceable for that reason alone. However, such document may be rejected as evidence if it is required to be produced before the Court. In that event, the party who wishes to produce the unstamped or insufficiently stamped document will have to pay the stamp duty payable and penalty before such document can be received as evidence.\n\nNotwithstanding the abovementioned proposition in law, the Legal Profession (Practice and Ettiquette) Rules 1978 has provided that it is unethical for a lawyer to object to such documents from being produced unless the objection goes to the root of the subject matter of the litigation.\n\nThe writer is a member of the Conveyancing Practice Committee, Bar Council, Malaysia www.malaysianbar.org.my.\n\nNote: This column is brought to you by the Malaysian Bar Council for your information only. It does not constitute legal advice. You should, therefore, seek professional legal advice for your specific needs. Neither the Malaysian Bar nor the Sun Media Corp Sdn Bhd shall be liable to any reader who suffers losses as a result of relying on this column.\n", "CreateDate": "2015-07-10T19:23:43.787", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm1.staticflickr.com/397/18954521383_e5912df93f_m.jpg" }, { "InfoId": "0ae8b683-5627-426c-9b3d-01b4bc7b8668", "Title": "How to extend your lease for leasehold properties", "Source": "http://www.starproperty.my/index.php/articles/investment/how-to-extend-the-lease-for-leasehold-properties/", "Details": "Posted on July 18, 2013\nby Christopher Chan\n\nThe extension of leases for leasehold properties is governed under section 197 of the National Land Code (Act 56 of 1965) pertaining to the applications for approval of surrender of the whole of the land, as well as the land rules of the various states.\n\nFor the state of Selangor, the extension of lease is governed by the Selangor Land Rules 2003 and Selangor Quarry Rules 2003.\n\nThe Selangor government has come out with two options relating to this matter as follows:\n\n1) Option no.1\n\nTo pay a mere RM1,000 for the extension of lease. This is provided the owner of the property does not re-sell it to profiteer. However you are allowed to transfer the property to family members. The State Authorities will lodge in a Registrar Caveat on the property to prevent the owner from disposing the property under this option; OR\n\n2) Option no.2\n\nTo pay the full rate of premium for the lease extension. With this option, the owner can then dispose the property immediately after obtaining the new title. Currently the Selangor State Government is giving 30% rebate on the rate of premium under this option.\n\nBear in mind that under Option 1, after the new title has come out, the owner would not be able to receive the rebate anymore should he or she later decide to sell the property on the open market, and would then have to pay the the full rate of premium.\n\nSome lawyers are charging a fee of RM1,000 to do the application for their clients regardless of option 1 or 2.\n\nHow to calculate the premium in Selangor\n\nIf you wish to renew your lease for a residential property within the state of Selangor, the formula for the calculation of the rate of premium is as stated below. The formula is derived from Section 7 entitled ‘Premium’ of the Selangor Land Rules 2003 & Selangor Quarry Rules 2003.\n\nPremium = ¼ x 1/100 x Market Value of land (in sq ft) x number of years to renew x land area (in sq ft)\n\nExample: For a 3,000 sq ft residential property in PJ with 10 years remaining on the lease (assuming it was valued @ RM120 per sq ft by the Authorities), the lease renewal fee calculation is= 0.25 X 0.01 X 120 X 89 X 3,000 = RM 80,100.\n\nLeases are usually renewed so that there are 99 years of lease on the title. Therefore, if you have 10 years remaining on your lease, you need only pay for an extension of 89 years (99 years-10 years).\n\nAfter deducting the 30% rebate, the fee payable would be RM 56,070.\n\nThe calculation of the rate of premium as mentioned above is on the land itself and does not include the building erected on the land.\n\nUnder Option no. 1 and no. 2, there is a further RM500 to be paid as contribution to the state’s cemetery trust fund, Tabung Amanah Perkuburan. The fund will enable the State Government to buy land for cemeteries.\n\nProcess of lease extension\n\nThe process of lease extension involves the government department called ‘Pentadbir Tanah Daerah Petaling’.\n\nAmong other things, the applicant (who is also the owner of the property) has to do the following:\n\nTo complete Borang 12A ‘Permohonan Untuk Menyerahkan Balik Tanah (Mengenai kesemua tanah itu)’ (application to surrender and re-alienate land to extend lease duration);\n\nTo complete ‘Borang Perihal Tanah dan Peribadi Pemohon’;\n\nTo complete ‘Jadual 1 (Peraturan 2) Kanun Tanah Negara Perintah Tanah Kerajaan’;\n\nTo complete the Form ‘Butir-Butir Permohonan Tanah Oleh Individu’;\n\nTo give the original title of the property;\n\nTo give copies of your quit rent (cukai tanah) and assessments (cukai taksiran) receipts for the current year;\n\nTo give a copy of his/ her National Registration Identity Card (NRIC)\n\nThe whole process may take approximately 2 years from the time of submission of the application right up to the obtaining the new title.", "CreateDate": "2016-05-23T07:43:27.967", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm8.staticflickr.com/7079/27112817621_d5be0c8c41_m.jpg" }, { "InfoId": "d48e8734-4744-4919-8afa-027f3d8b24ef", "Title": "APPLICATION FOR PBA WATER SUPPLY", "Source": "PBA", "Details": "1. APPLICATION FOR WATER SUPPLY\n\na. New water supply application –  for premises with Certificate of Fitness.\nRequirements/Documents :-\n\nApproval slip from housing developer.\nOriginal Sales & Purchase Agreement (S & P) and copy of Sales & Purchase Agreement (S & P) or receipt of Assessment Tax/Cukai Pintu from MPPP.\nOwner’s Identity Card (NRIC).\nSigned “Application for New Water Supply” form.\nPayment of deposit as per amount shown in the Approval Slip.\nb. New water supply application –  for private premises/kampong premises/temporary water supply\nRequirements/Documents :-\n\nOwner of premises\n\nCopy of owner’s Identity Card (NRIC).\nAppointment of a licensed plumber to install the plumbing system for the premises.\nApplication for New Water Supply” form must be completed by a licensed plumber and submitted together with the Construction Plans for processing by the Operations Department.\nOnce approved, the owner/plumber must make payment for the Master Contribution Mains, Pipes Deposit and Road Repair Charges (if necessary).\nPayment can be made in cash or by cheque to Perbadanan Bekalan Air Pulau Pinang Sdn Bhd.\nOccupant of premises\n\nCopy of Identity Card (NRIC); and\nCopy of Tenancy Agreement; or\nCopy of utility bills for the premises; or\nLetter/document stating he is the occupant of the premises; and\nSigned “Indemnity Bond” provided by PBAPP.\nAppointment of a licensed plumber to install the plumbing system for the premises.\n“Application for New Water Supply” form must be completed by a licensed plumber and submitted together with the Construction Plans for processing by the Operations Department.\nOnce approved, the owner/plumber must make payment for the Master Contribution Mains, Pipes Deposit and Road Repair Charges (if necessary).\nPayment can be made in cash or by cheque to Perbadanan Bekalan Air Pulau Pinang Sdn Bhd.\nc. Water supply connection for existing premises \nRequirements/Documents :-\n\nOwners of premises\n\nCopy Sales & Purchase Agreement or receipt Assessment Tax/Cukai Pintu from MPPP.\nCopy of owner’s Identity Card (NRIC).\nSigned “Application for New Water Supply” form.\nPay the deposit for the amount set by PBAPP according to type of premises by cash or cheque.\nPayment of the water connection charges, meter charges and/or other charges (if applicable).\nOccupant of premises\n\nCopy of Identity Card; and\nCopy of Tenancy Agreement; or\nCopy of utility bills for the premises; or\nLetter/document stating he is the occupant of the premises; and\nSigned “Indemnity Bond” provided by PBAPP.\n“Application for New Water Supply” form.\nPay the deposit for the amount set by PBAPP according to type of premises by cash or cheque.\nPayment of the water connection charges, meter charges and/or other charges (if applicable).\nd.  Change of Registered User.\nRequirements/Documents :-\n\nCopy of the Sales and Purchase Agreement or receipt of Assessment Tax/Cukai Pintu from MPPP.\nCopy of owner’s or new occupant’s Identity Card.\n“Application for New Water Supply” form.\nPayment of the deposit for the amount set by PBAPP according to type of premises by cash or cheque.\nEnsure that all arrears from the old account are settled by either the previous or new owner.\n2. Disconnection And Reconnetion of Water Supply.\n\nWater supply will be disconnected if customers do not settle their bills within the specified period. Customers are required to pay all arrears before any reconnection of water supply is made.   Reconnection will be made in 24 hours – 48 hours from the date of full payment of the amount due or from customer, or from the receipt of reports at any PBAPP Customer Care Centres.\n\n3. Termination of Water User Account.\n\nRegistered water users can apply to PBAPP to disconnect the water supply to his premises. Application for termination of water supply can be made to PBAPP with :\n\nA letter stating the applicant’s information such as full name, identity card number (NRIC), current address, account number and phone number.\nA signed copy of the Termination of Water Supply Form (Form M) and the other relevant documents at any PBAPP Customer Care Centre.\n4.  Refund of Water Deposits\n\nThe refund of any water deposits will be processed after a water user account is terminated. Any arrears or outstanding amount from the account will be deducted from the water deposit.\n\nCustomers must submit a copy of Identity Card (NRIC) for verification purposes and PBAPP will send a cheque to the address given in Form M in 1 – 3 months.\n\nIf a registered user is deceased, the heirs must submit the following documents:-\n\nCopy of the Death Certificate.\nCopy of Birth Certificate of beneficiaries (for children of registered user).\nCopy of Marriage Certificate (for wife/husband of registered users).\nCopy of the registered user’s Last Will & Testament.", "CreateDate": "2015-07-22T16:46:37.787", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm1.staticflickr.com/282/19286944494_650877f3ec_m.jpg" }, { "InfoId": "5845e792-cc96-4e05-ac12-02ffde9ecf1b", "Title": "Potential to be cheated by illegal brokers are higher, definitely.", "Source": "https://kopiandproperty.com/2016/06/09/cheated-illegal-brokers-higher/", "Details": "JUNE 9, 2016 by Charles\n\nPersonally, I have many good friends who are Real Estate Agents (REA) and Real Estate Negotiators (REN). I would engage them for all my real estate transactions. I would not want to take many calls and open the doors to show my unit to potential buyers 5 times a week. I would let the RENs do it and gladly pay them the necessary. By the way, I seriously do hope that majority of us Malaysians can be like the Singaporeans or the Hong Kongers. They would engage the licensed / legal real estate professionals instead of illegal or part-time brokers. Do read on a recent cheating case which happened recently. The below is a news release from the The Board of Valuers, Appraisers and Estate Agents Malaysia.\n\n– start –\n\nKUALA LUMPUR 8th June 2016: In the last two weeks, another two unscrupulous characters were caught posing as illegal agents and arrested for their misdeeds, an increasingly common occurrence that has the Board of Valuers, Appraisers and Estate Agents Malaysia (BOVAEA) worried.\n\nA local news portal and dailies highlighted the most recent case on June 5 identifying the suspect as a ‘property agent’, however the man who cheated some 30 people is not a Registered Real Estate Agent (REA) nor a Certified Real Estate Negotiator (REN). The perpetrator, was one of the few caught for his acts and was sentenced to 16 years in jail as well as 30 strokes for his crimes involving RM382,117.\n\nA Registered Real Estate Agent is a person who has passed the Board’s (BOVAEA) examinations and registered with the Board whereas a REN is certified by BOVAEA and employed by a REA who is directly responsible for their conduct and actions.\n\nSadly, there are a large number of cases with less amounts of money being cheated however it goes unreported. Official complaints are also on the rise and while BOVAEA has been keeping tab on the situation and educating the public about such illegal brokers, there seems to be a lackadaisical attitude on the part of the public to be self-vigilant in dealing with illegals. Such incidents can be avoided if buyers and property owners ask simple questions and check the registration of the said practitioners.\n\nIllegal agents or brokers have been part of the real estate fabric for many years and now they are getting bolder and have less respect for the law.\n\nBOVAEA’s President Datuk Haji Faizan Abdul Rahman said the board is very concerned about the welfare of the public as their life savings are at risk when dealing with illegal brokers in the property market. He said the current challenging market has made it a perfect opportunity for more illegal brokers to crop up, seeking many desperate home owners to list their property while buyers depart with money to own their dream property.\n\nREAs are bound by strict laws and under the Valuers, Appraisers and Estate Agents Act 1981, all monies collected are to be deposited in a client’s account and protected by professional indemnity insurance. The Board can deregister, suspend or fine the REAs if they commit an offence and report to the police on cases of cheating. This is the mechanism to protect the public at large. It is also a law that no individual can sell property for a fee if they were not a Registered Estate Agent or working as a Real Estate Negotiator with a real estate firm.\n\nA REA can easily be identified with their authority card and for a certified REN with their RED identity tags imbedded with a Quick Response (QR) code, so customers can scan the code with their smartphones to find out the background of his status as a REN.\n\nMembers of the public can also cross check the REN tag number with the BOVAEA website at www.propertyagent.gov.my or www.lppeh.gov.my\n\n“I strongly urge everyone to apply this method to ensure you are being assisted by these practitioners to avoid any complication in the sale or purchase. Do not use brokers – you are asking for trouble,” he added.\n\nMeanwhile he said BOVAEA and the police are collaborating to combat this problem and steps are being taken to identify and prosecute such illegal brokers. While we are doing this, we will continue to help educate the public on this matter and find a permanent long term solution to eradicate this menace.\n\nMembers of the public have also been advised to lodge police reports if they find themselves in a similar situation and keep the Board informed of such cases.\n\nEnds\n\nAbout BOVAEA\n\nThe Board of Valuers, Appraisers and Estate Agents Malaysia was set up in 1981 under the purview of the Ministry of Finance, Malaysia. The setup and operation of this Board is governed by the provision of Valuers, Appraisers and Estate Agents Act 1981. Its primary function is to regulate the Valuers, Appraisers and Estate Agents practising in Malaysia.", "CreateDate": "2016-06-10T23:07:29.85", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm8.staticflickr.com/7470/27483281732_e94d62f56e_m.jpg" }, { "InfoId": "6b2c8c75-ffaa-4369-8c5c-0735f18508ab", "Title": "Tips on How You Can Use Provident Fund to Get Your First House", "Source": "http://www.durianproperty.com.my/blog/article/795/tips-on-how-you-can-use-provident-fund-to-get-your-first-house", "Details": "Every employee in Malaysia contributes for provident fund for a carefree retirement and for property purchase. Malaysian are allowed to withdraw money from their provident fund to pay for their first house, and the second if the first house is sold off or the ownership is given to another. If one is under the age of 55, and the second account has more than RM 500, then one is qualified to withdraw the money to pay off the housing loan. That said, there are rules and regulations one needs to obey.\n\nCase 1: \nIf you owe the bank RM 25K, but in your provident funds you have RM 60 K, you will only be allowed take RM 60K out of your savings.\n\nCase 2:\nIf you owe the bank RM 70K, but you only have RM 60K in your provident fund, you are allowed to withdraw all RM 60K.\n\nConditions for initial payment: \n1.\tPurchase / construction for residential purposes.\n2.\tLocation must be within Malaysia.\n3.\tPaid by bank loan or cash.\n4.\tsale agreement is within 3 years from the date EPF accepted the application.\n5.\tWithdrawal is permitted for first house and second house, if there is proof of sale of first house or proof of transfer of ownership of the first house.\n6.\tApproved by EPF.\n7.\tPurchase of land to build a house (Not more than 6 months between the contract for land purchase and building of the house).\n\nWithdrawals are not allowed for the following purposes:\n1.\tPurchase of land only.\n2.\tPurchase of 2 houses and above simultaneously.\n3.\tRenovation cost for existing house.\n4.\tPurchase of third house.\n5.\tPurchase through bank drafts.\n\nConditions for repayment of mortgage:\n1.\tPurchase or construction of a house.\n2.\tLocated within Malaysia.\n3.\tPurchased with a bank loan.\n4.\tMortgaged to the bank.\n5.\tProperty purchased under the owner’s name.\n6.\t1 withdrawal per year.\n7.\tWithdrawal for repayment of mortgage of the same house.\n\nConditions for withdraw to help with spouse’s mortgage:\n1.\tHouse built or purchased by the spouse.\n2.\tBank’s approval on mortgage.\n3.\tHouse owned by the spouse or joint.\n4.\tMarriage certificate or child birth certificate as evidence.\n\nTips:\nIf after the purchase of the first house, and one is interested to purchase a second property, it is advisable to transfer the ownership of the first house to one’s spouse. Then, apply for a withdrawal from the second account. This method helps you to fund the house with your EPF savings while saving on stamp duty.", "CreateDate": "2016-06-06T14:17:57.737", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm8.staticflickr.com/7317/26885080734_aa576c05e4_m.jpg" }, { "InfoId": "e61f2943-67c4-4195-b504-0dc327c73dd7", "Title": "钟奕传：掌握租户背景 屋主立租约 护权益 ", "Source": "http://www.kwongwah.com.my/?p=152648", "Details": "乔治市很多空屋通过中介公司招租\n\n租金纠纷属民事 警方不受理\n\n槟城9日讯）不法之徒租借房屋炼毒、当淫窟、赌馆等，立下租约可维护屋主利益，避免无辜遭牵连！\n\n租借房屋犯罪案件频频发生，律师钟奕传接受《光华日报》访问时提醒出租房屋前，屋主一定要“做功课”，掌握对方的基本背景，才能避免发生事故。\n\n他说，许多屋主为了方便，通过房屋中介公司来招租。可是，是否要把房屋租给对方，最后决定权仍然是在屋主本身，也就是说，房屋租出后，屋主本身须承担风险。\n\n钟律师说，订下租约前，屋主一定先要跟租户面对面洽谈，了解对方从事何种行业、租屋用途以及搬家原因，从中了解和推敲对方的经济偿还能力，以及对方如何使用房屋。\n\n租金纠纷属民事 警方不受理\n\n他说，房屋租金纠纷为民事案，一般上警方不会受理。最终还是要交给法庭，法庭是根据现有房屋法令及房屋租金合同来判案。因此，预先立下房屋租借合同，可以确保屋主权益。\n\n钟律师说，在大马，房屋租约的内容和条件，都是依据屋主本身的需求和利益而定，一旦签下合约，双方都须根据租约行事。\n\n他说，租约有1年、2年、3年或以上的合约期限。一般上，一年租屋合同，租户须缴付1个月屋租抵押，2年2个月屋租抵押，以此类推。\n\n“屋主也可以向租户拿水电费抵押。抵押金数额，就由屋主来估计租户一家几口，大概每月消费多少水电费来衡量。一般上，租户必须根据租约订下的缴付租金日期，一周内缴还租金。”\n\n租户拖欠不缴屋租  2方法助屋主追讨\n\n钟律师建议，租户拖欠或不缴付屋租，屋主可以通过以下2个方法来追讨屋租及索回房屋。\n\n“第一个方法是，如果租户违约，拖欠租金不超过一年，屋主可以申请Distress Order庭令，查封租户屋内或工厂里的东西，通过法庭执法组清点及拍卖，扣掉法院开销，偿还租金给屋主。这样的情况，租户还是可以继续住下去，直到租金合约期满为止。”\n\n“第二个方法是，屋主不想继续租借房屋给违约租户，可以通过律师申请庭令，发出终止合约书给租户，要求对方在指定的期限内搬出去，归还房屋给屋主。在这样的情况下，如果租户继续住下来，不肯搬迁，每个月就须缴付双倍月租给屋主，否则就会面对法律制裁。租户一般不想面对更大亏损，会自动走人。”\n\n钟奕传律师提醒，法律不外乎人情，屋主和租户之间，彼此还是要守承诺，互相尊重，才可以避免纠纷。", "CreateDate": "2016-06-10T10:05:15.2", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm8.staticflickr.com/7509/27572305825_4c01070d1f_m.jpg" }, { "InfoId": "8d80a088-9cab-46c3-95b2-0e83b1ca21ba", "Title": "炒家危险！关税局修改产业GST指南", "Source": "http://blog.proprop.com.my/2016/02/07/%E7%82%92%E5%AE%B6%E5%8D%B1%E9%99%A9%EF%BC%81%E5%85%B3%E7%A8%8E%E5%B1%80%E6%82%84%E6%82%84%E4%BF%AE%E6%94%B9%E4%BA%A7%E4%B8%9Agst/", "Details": "关税局总监去年修改商用产业消费税指南，业主在售卖超过所规定价值的商用产业时，必须注册消费税，且一旦注册消费税后，未来所售卖的商用产业都必须征收消费税。\n\n \n\n在此之前，只要一年内没有“出售”超过两间“商用”产业或超过“一亩”商业地，即使一年内的销售额超过50万令吉，也不需要注册消费税。\n\n \n\n“旧” 产业消费税指南\n\n凡拥有商用产业的屋主 –\n\n(a) 在12个月内“出售”超过2间总值超过RM500,000的 “商用”产业或“出售”超过一英亩的 “商用” 土地，就需要注册成为GST商家和向买家收取6%的消费税.\n\n提醒: 农业土地和住宅产业还是属于豁免税务 (Exempted Supply)\n\n \n\nAny individual owning commercial property at any one time –\n\n(a) make a supply of two commercial properties or commercial land not exceeding 1 acre would be treated as not carrying out business even if the sale is more than RM500,000 in a 12 months period\n\nNote: Agriculture land & Residential property still under GST Exempted supply\n\n \n\n“新”产业消费税指南 (更新于28/10/2015)\n\n凡符合以下条件的屋主，将被视为经营一门生意，需要出售前注册成为消费税商家和向买家收取6%消费税.\n\n1. “拥有”超过2间单位的商用产业；\n\n2. “拥有”超过1英亩的商用地段；或\n\n3. 商用产业或商用地段的市值超过200万令吉。\n\n \n\nAny individual who is not a GST registered person is treated as carrying out a\n\nbusiness if he at any one time owns – (wef 28/10/2015)\n\n(a) more than 2 commercial properties;\n\n(b) more than one acre of commercial land; OR\n\n(c) commercial property or commercial land worth more than 2 million ringgit at market price;\n\n \n\n这项新指南是关税局总监的决定，已于去年10月28日生效，仅上载至关税局官网，并未对外公布。", "CreateDate": "2016-02-10T21:23:44.24", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm2.staticflickr.com/1570/24936873105_c3f319348e_m.jpg" }, { "InfoId": "e909bbc5-7ff6-4428-9ad7-133cd9cb60a5", "Title": "Penang’s New Housing Rules Effective 1 February 2014", "Source": "Buletin Mutiara", "Details": "The new housing rules announced in the 2014 Penang state Budget approved at the Penang State Assembly and proposed to be effective from 1 February 2014 are designed to protect Penang from being adversely affected by a property bubble as well as ensuring that public housing and affordable housing are bought by genuine purchasers who are qualified first time buyers from lower and middle-income groups.\n\nPublic housing are low-cost houses up to RM42,000 and low-medium cost houses from RM72,500 to RM400,000 on the island and from RM72,500 to RM250,000 on the Seberang.\n\nAs a responsible government seeking sustainable economic growth and development, the Penang state government is careful to avoid the pitfalls of any property bubble that will bring hardship to the rakyat and damage the economy. Japan is a good lesson of the dangers of a property bubble. These housing rules were discussed with stakeholders especially those from the property industry who had objected to them.\n\nThe state government has set up a RM500 million Public Housing And Affordable Housing Fund to build 20,000 units of public housing and affordable housing in all 5 districts of Penang. This is the largest amount set aside by any state government in Malaysian history to build affordable and public housing. Naturally, these new rules are necessary as the state government is concerned that first-time buyers may not be given the first opportunity to buy them and reduce exploitation for speculative gain.\n\n104 Units of Shared Ownership Scheme (SOS) & 51 Units of Rent-Buy Scheme\n\nFurther the State Government would also implement Malaysia’s first ever Shared Ownership Scheme(SOS), a historic joint purchase initiative between the state government and poor purchasers, for those who just miss out on getting a 90% or 100% bank loan, by offering a 30% interest-free loan from the state government whilst they need to borrow the remaining 70% from banks instead of a 90% or 100% bank loan. 104 units of low-cost houses in Taman Sungai Duri, Seberang Perai Selatan will be the pilot scheme for SOS. The State Government would also implement a “rent-buy scheme” of 51 units in Taman Seruling Emas Flats, Seberang Perai Selatan for the poor who are unqualified to obtain any bank loans or where banks refuse to lend any amount of loans to them.\n\nAs a people-centric government, the Penang state government wants to achieve housing democracy that allows every working family to own their own homes. Ensuring that public housing (low cost and low medium cost houses) is owned by the poor and genuine first time buyers is our priority. The state government is committed to assisting first-time buyers to have the opportunity to buy affordable homes and is willing to accept any criticism or face any legal challenges by those who oppose this commitment, whether from NGOs or BN.\n\nThe Penang state EXCO had during its last meeting refined the new housing rules for clarity and certainty as follows:\n\n1. Public Housing – Low Cost And Low Medium Cost Housing\n\nAll low cost homes (up to RM42,000) and low-medium cost homes(up to RM72,500) purchased cannot be sold for 10 years from the date of Sale and Purchase Agreement. Those who wish to sell during the first 10 years must appeal to the state government and can only be sold to “listed buyers”. The price transacted will not be set by the state government but will be on a “willing buyer, willing seller” basis by both the “listed buyer” and the seller. Listed buyers are those who have registered with the Housing Department of the state government and are certified as low income groups that are qualified to purchase low-cost or low-medium cost housing. This 10 year rule will cover all past and future purchases. The balloting of houses will be subject to oversight by an auditing firm, the first time this is done by any state government in Malaysia.\n\n2. Affordable Housing\n\nAffordable housing is classified as houses which were initially purchased below RM400,000 on the island and RM 250,000 on the mainland. Affordable housing purchased can not be sold for for a period of 5 years from date of Sales and Purchase Agreement. Those who wish to sell during the first 5 years must appeal to the state government and can only be sold to “listed buyers”. The price transacted will not be set by the state government but will be on a “willing buyer, willing seller” basis by both the “listed buyer” and the seller. “Listed buyers” are those who have registered with the Housing Department of the state government and are certified as middle-income groups that are qualified to purchase affordable housing. This 5 year rule will only cover all properties transacted on or after 1 February 2014. In other words it will not be retrospective but affect only Sales and Purchase Agreement signed on or after 1 February 2014.\n\n3. Purchases By Non-Citizens\n\nNon-citizens can only purchase properties in Penang in excess of RM1 million and for landed property on the island must exceed RM2 million. All purchases of properties by non-residents will be subject to a 3% levy on the transacted price for Sales and Purchase Agreement signed on or after 1 February 2014. Exemptions are provided for purchases for industry purposes or for a purpose that promotes employment, education, human talent or promoting Penang as an international and intelligent city.\n\n4. 2% Levy On Property Purchased After 1.2.2014 Sold Within 3 Years\n\nA 2% levy will be imposed on the seller for all property sold within 3 years from the date of the Sales & Purchase Agreement(SPA) signed from 1 February 2014. In other words, this is not retrospective. Properties bought with the SPA signed before 1 February 2014 will not be subject to this levy. Only properties bought with the SPA on or after 1 February 2014 will be subject to the 2% levy if sold within 3 years. This 2% levy is not applicable to affordable housing.\n\nActive discussions are continuing with the Bar Council, banks, property developers both in and outside Penang as well as other associations to brief them on the new housing rules which are in force for SPA signed on or after 1 February 2014 , except for low-cost or low-medium cost housing.\n\nSource: Buletin Mutiara", "CreateDate": "2015-07-28T17:10:58.637", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm1.staticflickr.com/548/20085868851_1dda4ee6e0_m.jpg" }, { "InfoId": "65470dee-04ed-4e69-9e9e-89e3ead53f6b", "Title": "Advocate for Fair and Reasonable Short-Term Rental Regulations In Malaysia", "Source": "https://www.change.org/p/every-short-term-rental-host-in-malaysia-advocate-for-fair-and-reasonable-short-term-rental-regulations-in-malaysia?recruiter=574475537&utm_source=petitions_show_components_ac", "Details": "In many countries, a short-term private rental is a property that is rented out for less than 30 consecutive days. But here in Malaysia the rental market is a free market (there is no law, statute or regulation that defines a tenancy period). As a result, many hosts wanting to rent out their properties are now facing harassment and intimidation from the management committees of their blocks (JMBs and JMCs) who have put up banners in many high-rise buildings saying \"RESIDENTS SAY NO TO HOME STAY AND SHORT STAY\".\nSince 1st July 2016, The Local authority Licencing Department has been issuing fines to owners and tenants where properties are rented out for less than a month, the penalty issued on a per guest basis with evidence taken from the guest registration form supplied by the JMB - each penalty being RM125.00\nAs there is no law defining short-term tenancies, we feel that we, as hosts, are being unfairly treated by the authorities. We reject the claim that a private rental under a tenancy agreement can be described as an illegal \"hotel\" or \"lodging house\".\nWe believe that a good set of regulations will be beneficial to all parties - hosts and their guests, local residents, local businesses, the hotel industry, the tourism industry, local government and the local community as a whole.\nWe want to urge the Malaysian government to regulate short-term rentals in a fair and efficient manner.", "CreateDate": "2016-07-17T01:07:25.85", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": null }, { "InfoId": "8e218a85-d063-4fc7-9b37-9b2589c84fa7", "Title": "Public Bank cuts interest rates by 23 basis points", "Source": "http://www.thestar.com.my/business/business-news/2016/07/25/public-bank-public-islamic-bank-to-reduce-its-base-rate-by-23-basis-points/", "Details": "KUALA LUMPUR: Public Bank Bhd (PBB) is trimming its base rate and base lending rate/base financing rate by 23 basis points effective July 27, 2016, following the reduction by Bank Negara in the overnight policy rate (OPR). \n\nThis will bring Public Bank’s base rate to 3.52% and base lending rate / base financing rate to 6.72%.\n\n“In line with the objective of the pre-emptive action by Bank Negara Malaysia to reduce the OPR, Public Bank reduces its lending and financing rates to pass on the benefits to the customers. \n\nThe move is poised to be a positive catalyst for the Malaysian economy to continue growing on a steady path amid increasing signs of moderating momentum in global economic growth,” founder and chairman Tan Sri Teh Hong Piow said in a statement. \n\n“On a positive note, domestic demand as the main engine of the Malaysian economy will remain supported by monetary accommodativeness, healthy financial condition and stable inflation in the domestic economy,” he added.", "CreateDate": "2016-07-26T11:00:55.223", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm9.staticflickr.com/8089/28269810960_9d5d935eb4_m.jpg" }, { "InfoId": "630076c0-a2bf-4b11-969d-9bdce679ec77", "Title": "Real Property Gains Tax (RPGT) 2014", "Source": "http://www.hasilnet.org.my/real-property-gains-tax-2014/", "Details": "Pursuant to Real Property Gains Tax Act 1976, Real Property Gains Tax (RPGT) is tax charged by the Inland Revenue Board (LHDN) on gains derived from the disposal of real property such as land and building. Both individuals and companies are subjected to RPGT.\n\nRPGT is also charged on the disposal of shares in a real property company (RPC). An RPC is a company holding real property or shares in another RPC with value not less than 75% of the value of the company’s total tangible assets.\n\nRPGT had undergone a couple of revisions since introduced in 1976, and the last revision was done in 2014. In this revision, with effect strating from 1st Jan 2014, the RPGT rates have been increased from 0% to 15% to the new rates of 0% to 30%.\n\nThe reason for the reason increase is to curb property speculation & sudden surge in property price, which affect the affordability of people to buy a property.\n\n1. RPGT 2014 Rates\nRPGT rates are depending on the entity (resident, individual or company) and the most importantly holding period. There are three (3) separate tier group for RPGT 2014 rates. The groups are Malaysian Citizen and Permanent Resident (PR) individuals, Companies and Non-Citizen or Non-Permanent Resident.\n\nFor the Malaysian citizen and permanent resident individuals, any property disposed within the first five (5) years of purchase is subjected to RPGT. Beyond that, there is no RPGT imposed.\n\nFor the Companies and Non-Citizen or Non-Permanent Resident group RPGT imposed when they disposed the property even the property held more than five (5) years.\n\nHolding Period is determined base on date of signing of Sales & Purchase Agreement (SPA) and date of disposal. Take note on the anniversary date to determine the actual RPGT rates.\n\nRPGT 2014 tier rates for all three (3) groups are tabulated in the table below.\n\nHolding Period\tCitizen or Permanent Resident\tCompany\tNon-Citizen or Non-Permanent Resident\nwithin 1 year\t30%\t30%\t30%\nwithin 2 years\t30%\t30%\t30%\nwithin 3 years\t30%\t30%\t30%\nwithin 4 years\t20%\t20%\t30%\nwithin 5 years\t15%\t15%\t30%\nBeyond 5 years\t0%\t5%\t5%\n \n\n2. Exemption\nAs per Schedule 4 of the Real Property Gains Tax Act 1976 individual can obtain RPGT exemption base on the following.\n\nDisposal of one residential property once in a lifetime.\nTransfer as gifts in between family members. This exemption is only applicable for transfer in between husband and wife, parent and child, grandparent and grandchild. Take notes that transfer between sibling, brothers or sisters are not applicable.\nWaiver Exemption equivalent to 10% of chargeable gains or RM10,000 whichever is higher is not taxable. Prior to 1 Jan 2010, the exemption was equal to RM5,000 or 10% of the chargeable gain, whichever was greater.\n3. RPGT 2014 Calculation\nIn short the RPGT payable is calculated base on the following formula\n\nRPGT Payable = RPGT Rates x (Chargable Gains – Waiver Exemption)\nwhere\n\nRPGT Rates ? as per item (1) above\nChargeable Gains ? net capital gains after deducting in between disposal price, acquisition price and allowable expenses. Typical allowable expenses are\nLegal fees\nSales commission\nAdministrative fees\nRepair and renovation\nWaiver Exemption ? as per item (2) bullet (3) above\nYou may refer to 1-million-dollar-blog website for Real Property Gains Tax Calculator\n\n4. Payment of RPGT\nRPGT is only payable once the property sold off. The payment has to be paid at Inland Revenue Board (LHDN) within 60 days.\n\nNormally, lawyer whom you engage to handle the transaction will do it for you by submitting the relevant CHKTK from. It is wise to check they already do this to avoid any misunderstanding.", "CreateDate": "2015-07-05T15:19:11.01", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm4.staticflickr.com/3676/19432675551_136dbfefa6_m.jpg" }, { "InfoId": "e30b267b-34c7-40c8-a66b-9fd0cbb6c480", "Title": "Guide For First Time Home Buyer", "Source": "loan street", "Details": "If you have never purchased a property and wonder how it works, here is a simple guide for you. Buying a property is a big decision in your life and the whole process can take a long time.\n\nStep 1: Finding the suitable property\nThe first step to buying a property should be looking for the right property that meets all your requirements. Requirements are unique to individual and some individuals may have more requirements than the other. Depending on whether you are buying a property for investment or for your own living, the requirements may also vary. If you have trouble deciding between which type of properties to go for, you can visit our guide to choosing landed or high rise property.\n\nStep 2: Securing the deal\nOnce you have found the right property, you will be asked to pay a 2% – 3% booking fee to the property developer/real estate agent and a booking receipt will be given to you. Within 14 days from this day, you will be requested to sign the Sales and Purchase Agreement (or what is generally known as an S&P) and to pay the remaining 7% - 8% of deposit, depending on the loan amount that you can obtain. (In some instance where the valuation of the property is lower than the property purchase amount, the Bank will only approve a loan of up to 90% of the valuation amount. Hence, you will have to pay the remaining balance between the property purchase price and the loan amount. Due to this reason, we strongly encourage that you secure your financing within this 14 days as you do not know the loan amount which will be approved.)\n\nStep 3: Getting financing\nThis is the most time consuming part of the process aside from searching for the right property. You would want to get a loan from a Bank which either charges the lowest interest or has an attractive product feature or is the most convenient to you. During this process, you will have to submit an application form together with all the supporting documentations (such as a photocopy of your Identity Card, pay slips, EPF statements, booking receipt and etc) to the Bank and the Bank will assess your credit profile to determine if they want to approve or reject your application. If the Bank decides to approve the loan, they will issue an Offer Letter which you have to sign in acceptance.\n\np/s: This is where Loanstreet can help expedite and saves you the time and trouble.\n\nStep 4: Sealing the deal\nSealing the deal in the eyes of law means you have to appoint a solicitor to execute the S&P Agreement and Loan Agreement. Depending on certain factors, you may have to execute your S&P Agreement and Loan Agreement with different solicitors. Once you have signed on the necessary agreements, the solicitor will take on from there to stamp the agreement (where you are required to pay the Stamp Duty as well as the Legal fees) and perform the transfer registration at the Land Office Registry. Depending on certain aspects, the transfer registration may sometimes take up to a year to complete. However, in a normal situation, it should not take more than 3 months.\n\nOnce everything has been completed, the Bank will disburse the loan amount to the seller and the keys will be delivered to you. This completes the whole process where you are now officially the owner of the property.\n\nTips, tricks and potential pitfalls:\nAside from your down payment, remember to watch out for the other entry costs of purchasing a property (Legal Fees, stamp duties, valuations etc.) Use our Home Loan Calculator to calculate your entry costs\nUntil 31 Dec 2014, if your first home purchase is kept below RM400,000, you are entitled to a 50% discount on the stamp duty for your Sale and Purchase Agreement as well as your loan documentation. Use this to your advantage.\n\n*Update: The new limit entitlement for the 50% stamp duty exemption is now for properties RM500,000 and below in accordance to Budget 2015. This will take effect starting 1st January 2015\n \nBe wary of the property valuations. Just because you bought the house at a certain price does not mean the banks will value the property at a similar price. Banks normally can only give loans up to 90% of purchase price or valuation, whichever is lower. So if the valuations are less than your purchase price, you may have to top up the difference in cash!\n\n\nAll data and information is correct at time of upload. These articles are for information and basic educational purposes only.\nConsumer experiences may differ depending on location or other factors.", "CreateDate": "2015-07-21T18:33:32.903", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm1.staticflickr.com/461/19875556742_bdd9950da5_m.jpg" }, { "InfoId": "b738d0c4-7907-4c37-abdc-af4fa777cdd5", "Title": "How can I evict my tenant for not paying rental?", "Source": "http://www.starproperty.my/index.php/articles/investment/qa-how-can-i-evict-my-tenant-for-not-paying-the-rent/", "Details": "Property lawyer Chris Tan from Chur Associates who has previously written on the subject shares his advice on the matter:\n\nA tenancy agreement allows the landlord to evict the tenant and/or to recover possession of the demised premises upon the non-payment of rent, nonetheless the landlord is prohibited from evicting the tenant and/or to recover possession of the demised premises without a court order.\n\nSection 7(2) of the Specific Relief Act states that “where a specific immovable property has been let under a tenancy, and that tenancy is determined or has come to an end, but the occupier continues to remain in occupation of the property or part thereof, the person entitled to the possession of the property shall not enforce his right to recover it against the occupier otherwise than by proceedings in the court.”\n\nHence, it is advisable for the landlord to:-\n\n1. Issue an eviction notice in accordance to the tenancy agreement to the defaulting tenant giving the tenant certain grace period to handover vacant possession and pay all overdue rental;\n\n2. If the tenant remains in occupation of the premise after the expiry of such notice, the landlord may claim double rental from the date of the expiry of the eviction notice until date of delivery of the vacant possession to landlord;\n\n3. the landlord may file an eviction order against the tenant in court for the outstanding rental, double rental and recovery of the vacant possession; and\n\n4. the eviction order could take three to six months at Sessions Court and the costs of the proceeding would varies from RM7,000-RM25,000 depending on whether the tenant is contesting the said summon.\n\nUnder Section 28(4) of the Civil Law Act: “Every tenant holding over after the determination of his tenancy shall be chargeable, at the option of his landlord, with double the amount of his rent until possession is given up by him or with double the value during the period of detention of the land or premises so detained, whether notice to that effect has been given or not”.\n\nIn most circumstances, where the tenant left the demised premises without informing the landlord, the landlord would proceed with self-help measures. If the landlord breaks the lock to take possession of the demised premises himself, the landlord might be slapped with a civil suit by the tenant claiming for an exorbitant amount for the landlord’s purported “self-help” however.\n\nThe current practice is for the landlord to lodge a police report and break the lock in the presence of a police officer and other independent witnesses in order to avoid further complications. A prudent landlord would take  as many as possible photos of the interior of the demised premises to ensure that the tenant would not later claim loss of properties.\n\nIt is also advisable to place a notice on the front of the property informing the tenant if he wants to take back his assets in the house, he shall contact the landlord within 1 or 2 weeks’ time. Besides, you may also place a photocopy of the landlord’s police report together with the notice to indicate that the landlord had made the police report.\n\nIt is pertinent to note that shutting off the utilities is not advisable because it would put the landlord at a greater risks for being sued for damages for the electronic items etc, worse still if the tenant is bed-ridden and relying on the life-support machine.", "CreateDate": "2016-03-05T18:26:06.003", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm2.staticflickr.com/1459/25226273500_d8bf270029_m.jpg" }, { "InfoId": "21b589c2-ee05-4e51-ae46-c0a855871855", "Title": "House owners liable for illegal activities in their premises", "Source": "the star online", "Details": "Property owners must ensure that a tenancy agreement is in place to prevent themselves from being prosecuted if illegal activities are conducted on their premises.\n\nMalaysian Institute of Estate Agents (MIEA) councillor Alex J. Gomez said the tenancy agreement is a legal contract between the tenant and the landlord which clearly states the responsibilities of each party.\n\n“If gambling or other illegal activities are being conducted, the landlord must lodge a police report and take legal action,” said Gomez.\n\nHe was responding to StarMetro’s report on Oct 9 titled “Covert Casinos” which revealed that many gaming centres located inside shoplots and apartments at Taman Sri Manja, Petaling Jaya had been converted into casinos.\n\nA landlord said he had rented out his premises to a cybercafe through a registered real estate agent without knowing that he could be prosecuted if illegal activities took place.\n\nThe owner said that he now knew that under Section 4 (1) of the Common Gaming Houses (Amendment) Act 2013, owners can be fined and jailed.\n\nSection 15B and 16A states that the premises could be seized and may be liable to forfeiture.\n\nHe claimed that the real estate agents were offered attractive commission rates by the cybercafes and had become their accomplices.\n\nGomez explained that real estate negotiators (Ren) should be registered through their firms with the Board of Valuers, Appraisers & Estate Agents.\n\n“The public should check the credentials of agents who should have Ren tags issued by the board.\n\n“Alternatively they can also check the names of their agents or negotiators through www.lppeh.gov.my\n\nGomez also advised landlords to check the nature of their tenant’s business before entering into a tenancy agreement to avoid problems.\n\n“They should conduct checks at their premises to ensure that no illegal activity is taking place.”\n\nHe said if any condition in the tenancy agreement had been violated, the landlord should engage the services of a lawyer to evict the tenant.\n\nMIEA represents both registered estate agents as well as Rens.\n\nGomez said any complaint should be forwarded to the board which has the power to take disciplinary action.\n\nThe board is currently involved in a campaign to warn the public about the dangers of engaging unauthorised agents.", "CreateDate": "2015-10-31T11:14:51.89", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm6.staticflickr.com/5689/22001933574_7855519d68_m.jpg" }, { "InfoId": "8d50291e-cd0f-4967-afb1-cc24de21fa81", "Title": "思房钱：6拍卖产业风险", "Source": "http://www.nanyang.com/node/761484?tid=686", "Details": "虽然在拍卖会上购买产业有许多好处，但其实风险也一样多。\n造成产业被拍卖的原因有很多，最常见的就是前业主无法支付房屋贷款、产业税、所得税或其他拥有产业而必须缴付的费用，结果导致产业被拍卖。\n在某些情况下，这些被拍卖的产业，也可能是因为涉及非法活动而被政府没收的财产，又或者是已废置的产业。\n为了避免购入问题一箩筐的拍卖产业，以下是一些你应该知道与注意的风险。\n\n1.可能失去订金\n\n购买拍卖产业就像购买其他类型产业一样，你必须在获得房屋贷款之前支付订金。\n大马的房产拍卖，主要分为为两种：一种是由银行进行，无个人地契或分层地契的贷款协议及分配协议（LACA）的拍卖；另一种则是非LACA拍卖，一般上在高等法庭进行，被拍卖的产业拥有个人或分层地契。\nLACA产业需要支付5%的订金给拍卖师，而非LACA产业则需要支付拍卖保留价的10%金额。\n在拍卖成功后，你必须在90天内支付购买LACA产业的款项，而非LACA产业则容许你在120天内结清余款。\n如果你是申请房屋贷款来支付这些款项，你必须确保贷款能够获得批准，且在拍卖产业的期限内获得贷款。\n若以现金交易，你就需要确保本金拥有足够的现金来缴付款项。\n这将避免任何原因所导致的逾期付款，最后造成订金被没收。\n\n2.租户可能占用\n\n一个拍卖产业最常面对的风险，就是驱逐住户的问题。\n如果你竞标成功，买了一个已有住户的拍卖单位，要把住户驱逐出该单位，就是你的责任。\n根据我国法律，要依法驱逐拍卖单位的住户，你首先必须是该单位的业主。一旦你正式成为业主，你就可以在申请庭令前，通过律师申请扣押令。\n申请扣押令最长需时4周，花费介于1500至2000令吉。\n在购买拍卖产业之前，必须先调查该产业是否被占用，如果已被占用，那视乎这些住户是否就是之前的业主或租户。\n如果租金保持不变，租户通常会同意延长租约。不过，假设住户是心怀不满的前业主，事情就会变得麻烦。\n\n3.可能隐藏债务\n\n一般情况下，无法支付房屋贷款的业主，很可能也拖欠水电费、保修费、土地税和其他费用。\n这对多数购得拍卖产业的买主来说，是一项出乎意料的问题。\n一般上，你需要在竞得有关单位后，缴清所有拖欠的账单，然后再通过你的律师提交必要文件。\n在拍卖日前，请带着销售说明书（POS）到相关机构，如国家能源、雪兰莪水务公司（Syabas）、物业管理办公室，以检查该单位所拖欠的款项。\n\n4.可能投资错误\n\n拍卖产业似乎是一项良好投资，因为有些产业的拍卖底价，竟然低至4万令吉！\n然而，拍卖产业价格便宜，并不意味着就是一项好投资。\n因为，这与投资任何物业一样，你必须考虑所有因素，也要取决于你买来是为了自住，还是以投资者或投机者的身分购买。\n如果你错手买入一个地点欠佳的产业，房价可能很久都不会升值。\n\n5.可能巨资维修\n\n在你决定去拍卖会前，请务必实地检查有关产业单位。\n一个没有获得良好保护，且多处损坏的产业单位，会耗费大笔维修费。\n不过，购买一个状况欠佳的单位，有时不一定是个错误的决定。\n这是因为，若你的购价非常低，就算必须承担维修成本，这项交易还是划算的。但关键是，你必须确保本身有足够的资金来维修。\n\n6.可能限制多多\n\n另一个购买拍卖产业的风险，是有关单位或单位地契可能受到限制。\n某些产业单位被列为土著单位，如果你是非土着，可能面临无法将该单位转到你名下的窘境；此外，该产业可能还遭到法庭发出冻结令，禁止或冻结产业出售。\n举例来说，如果所拍卖的产业，是由两个人共同拥有，其中一名业主就可提出申请，对有关产业发出冻结令，阻止另一名业主出售。\n为了避免竞标到拍卖单位后面对这些问题，你不妨在竞标前，前往当地土地局查询相关限制。\n此外，你也可查看有关拍卖单位，是否为重新拍卖者。\n一般上，产业之所以被重新拍卖，都是因为这些限制，也就是因为之前的成功竞标者未能完成购买过程，结果导致产业必须再次被拍卖。\n购买拍卖单位或许很划算，但如果不留意这些潜在问题，你可能还未踏入该产业一步，就已陷入严重的财务危机。若买方能先适当地检查，就能减少一些购买拍卖产业可能面对的风险，并确保这是明智的投资选择。", "CreateDate": "2016-05-16T20:54:51.137", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm8.staticflickr.com/7243/26446254163_58baa638a4_m.jpg" }, { "InfoId": "427b8dee-1c59-4073-b80f-ef84b4e04f53", "Title": "When does GST applies to individuals who own properties?", "Source": "http://www.starproperty.my/index.php/articles/property-news/when-does-gst-applies-to-individuals-who-own-properties/", "Details": "Posted on April 25, 2016\nIT has always been clear that it is the responsibility of those in business to register for GST and collect the tax, however, recent guidance released by the authorities could bring private individuals, who would not consider that they are in business, into the mix.\n\nUnder GST, the sale of commercial buildings and land zoned for commercial is usually subject to 6% GST, if sold by a person in business.\n\nIt was long thought that private individuals who owned property and did not actively manage or trade in that property in any way would fall outside of this net, on the basis that they were not necessarily in business and were merely holding the property as part of an investment or inheritance, unless the facts clearly indicated otherwise.\n\nThe Royal Malaysian Customs Department (Customs), which has responsibility for administering the GST, holds a different view.\n\nIn recent guidance published by Customs, the director-general (DG) took the view that if a person owns more than two commercial properties, more than one acre of commercial land or commercial property, or land with a market value of more than RM2mil and has an intention to sell, they are considered to be in business.\n\nWhether the DG’s decision is correct under the law is another question.\n\nHowever, one can sympathise with Customs as the lines between what is private and what is business can be blurred, especially in a property context which often involve large sums.\n\nDespite this, taking a view that a certain level of property ownership automatically means that a person is undertaking a business may be too simplistic.\n\nIt does not take into consideration the person’s intention in owning the property and whether they have any business acumen or purpose as opposed to merely holding for investment, and certainly does not take account of whether the ‘holding’ of ownership bears any of the hallmarks of conducting a ‘business’.\n\nSimilarly, a person may have inherited, or owned property as a consequence of family dealings and over time the market value of that property has grown without any intention or action of the individual.\n\nTo enforce a strict guideline in those circumstances would appear to be unfair as well as not being consistent with the definition of what is a ‘business’ under the GST Act.\n\nA further area of concern is that the guidance takes the view that if at any point in time from April 1 2015 (commencement date of GST) that the person meets the criteria, they are considered to be in business.\n\nSo for example a person who may have only owned one commercial property, but during a short space of time had acquired one and was in the process of selling the other, may be caught under these rules on the basis that they did at one point own two properties.\n\nThis may be too strict an interpretation that would only possibly be appropriate if that persons was regularly trading in such properties.\n\nThe authority should consider applying these rules with some level of flexibility and take into consideration the particular facts and circumstances of the individual and whether there is an intention to conduct a business, taking into consideration the context of the individual cases.\n\nIt is indeed encouraging to know that Customs, having considered the feedback given on the guidelines and are now revisiting the GST position taken.\n\nIt is hoped that a position that is acceptable to all will be adopted.\n\nFor those private individuals, who are concerned about whether their sales would be subject to GST, the best approach would be to talk to an accountant or advisor that is experienced in the GST law, or approach Customs to seek confirmation of your position.\n\nIt is also important that you know the avenues for seeking rulings and or opinions from Customs before adopting a certain stance on the GST treatment particularly on grey areas to mitigate future disputes.\n\nThere are also formal channels for appeal through the GST Tribunal and the court system.", "CreateDate": "2016-05-17T22:26:37.593", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm8.staticflickr.com/7308/27004618391_e9e859462d_m.jpg" }, { "InfoId": "52725568-44ba-4f26-a8d6-f67e25ee8293", "Title": "converting the status of their buildings to commerial MPSP", "Source": "The star", "Details": "Green light to do home business\nMetro North\n24 July 2015\n\nTHE owners of 18 double-storey terraced houses in Tingkat Tenang in Bukit Mertajam, which face Jalan Kulim opposite the St Anne’s Church, can now apply for the buildings to be converted into commercial premises.\nThe Seberang Prai Municipal Council (MPSP) gave the approval for the conversion in May following a discussion on the matter during a full council meeting and based on a study by the council’s Town Planning Department, said municipal councillor Michael Tan.\nHe said businesses were already being carried out in six of the houses which were illegal due to the residential status of the buildings.\n“There is a used car dealer, a driving school, a restaurant, a laundry-cum-hotel, a cendol shop and a hair salon. They can now run their businesses legally by converting the status of their buildings to commerial use.\n“The owners will need to apply to the council for the conversion under the Town and Country Planning Act 1976. They will be charged RM5.25 per square foot before planning approval can be granted,” Tan told a press conference at the site yesterday.\nHe said those who apply for the conversion would also have to pay an additional lump sum of RM12,611 as contribution to a car park which will be built on an empty plot fronting the houses between Tingkat Tenang and Jalan Kulim.\nHe said that since 1993, 1,019 houses in Seberang Prai had been converted into commercial units and urged the owners of the affected houses in Tingkat Tenang to apply for the conversion as soon as possible.\n“It is an offence to run a commercial business in a residential unit,” Tan said, adding that offenders could be charged under the Town and Country Planning Act 1966 which carries a maximum RM500,000 fine.\n ", "CreateDate": "2015-07-27T07:57:51.167", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": null }, { "InfoId": "1ffb5e10-322a-4900-983a-6d02fdc317d9", "Title": "Law Speak - Local authorities cannot be sued for invalid planning approvals", "Source": "http://www.thesundaily.my/node/354105", "Details": "I WROTE in my last column of the decision by the Penang Appeal Board to set aside the planning permission given to a developer to build some 603 housing units on sensitive hill land – land that is 250 feet above sea level and/or with a gradient of 25°.\n\nThe fear persists among local authorities and state governments that they may, nonetheless, be sued for millions by a developer for costs incurred and damage allegedly suffered for the grant of the planning permission in the first place.\n\nIt is my respectful view that this fear is unfounded in law.\n\nFirst, the Appeal Board – acting under powers given to it under the Town and Country Planning Act 1976 – sets aside any planning permission on the basis that the permission was flawed; it violates the applicable legal architecture. In short, the law prohibits any grant.\n\nThis implies that the developer did not have any right to the grant of the permission in the first place. It is an elementary principle of law that a court cannot countenance an illegality – which it will be doing if it awards damages in respect of a right that the law, as declared, does not recognise. This applies even if the planning authority misinterpreted the law wrongly.\n\nThis was made clear in a recent 2015 case decision of the High Court in England. In summarily dismissing the suit brought by a corporation for damages for loss suffered as a result of the planning authority's negligence in granting the planning permission in the first place (later refused), the Judge said: \"It would be an extreme and unwarranted extension of a local authority's liability at common law to require it to pay damages to compensate for loss suffered by a member of the public, whether corporate or individual, because of a mistake made by it in granting planning permission to that person, in circumstances where the planning permission, in fact, subsequently had to be set aside or quashed.\"\n\nSecondly, what if the developer argues that its loss was because of the representation made by the local authority that such permission would be, and was in fact, granted? This is referred to in law as an estoppel – if a person makes a representation that is acted upon, it is binding on the parties. Else it would be unfair and inequitable.\n\nBut the law confines this principle to private law. It does not apply to public authorities exercising public functions. The highest court in England – the House of Lords – made this abundantly clear in a 2002 case (Ex parte Reprotech): \"These concepts of private law should not be extended into the public law of planning control, which binds everyone.\" Because remedies against public authorities must also take into account the interests of the general public, which the authority exists to promote.\n\n\"The general principle\", said the House of Lords, (is) \"… that a public authority cannot be estopped from exercising a statutory discretion or performing a public duty.\"\n\nThis case was approved by the Malaysian Court of Appeal in Majlis Daerah Dungun v TNB (2006); which in turn was cited with approval by the Penang Appeals Board in Goh Kheng Huat v Majlis Perbandarn Seberang Perai (2010).\n\nThirdly, in any event the Town and Country Planning Act explicitly protects public authorities, including local authorities and its officers, for any act they perform to carry out their functions. This means they cannot be sued for damages \"in respect of any act, neglect, or default done or committed\" (section 54).\n\nFinally, it is noted that while the Act provides for some situations where damages may be claimed, it says nothing of that kind when it deals with the power of the Appeal Board to set aside a decision of the planning authority. This further reinforces the legal position that there is no basis under the statute to sue the local authority.\n\nOn these several grounds it is safe to conclude that no claim for damages can succeed against a local authority for its initial grant of planning permission that is set aside as being invalid in law.\n\nGurdial is professor at the Law Faculty, University of Malaya. Comments: letters@thesundaily.com", "CreateDate": "2016-03-16T16:23:25.583", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm2.staticflickr.com/1579/25708123242_a877188953_m.jpg" }, { "InfoId": "5d21cfd3-3f39-429d-aff2-7ed40de63717", "Title": "Property attributes in Malaysia – Key things to look for", "Source": "thestarpropety.my", "Details": "WHEN purchasing or refinancing a property in Malaysia, there are many different attributes (e.g. Lease, Subdivision, Land Type) the property can have. Each requires different treatment during the conveyance process, and can even affect your housing loan / mortgage application. This article debunks and summarises everything you have ever wanted to know about types of property attributes in Malaysia, and how it will affect your purchase and refinancing decisions.\n\nProperty attributes in Malaysia - Key things to look for\nFreehold vs Leasehold\nLeasehold land belongs to the state and is leased out to an “owner” for a number of years. Towards the end of a lease, owners are required to pay a fee to extend the duration of the lease. Freehold land on the other hand belongs to the owner (the purchaser) indefinitely.\n\nAdditionally, during a sale and purchase process, consent is required from state authorities (Land Office) before the transfer can proceed. The state can withhold approval for any number of reasons. Due to this additional step, it can take much longer to buy or sell a leasehold property.\n\nFor these reasons, freehold properties are usually more expensive than similar spec leasehold properties.\n\nLeasehold\tFreehold\nLand belongs to the state, leased to owner for a number of years\tLand belongs to the owner\nAt the end of the lease, owners must pay to extend the lease\tOwnership is indefinite\nRequires state consent (obtained at land office) to transfer ownership\tDoes not require state consent to transfer ownership (except in certain specially earmarked properties)\nMost banks will not finance a property if the lease has less than 30 years to go\tNo question of existing lease duration for home loans / mortgage\nSubdivision of Title\nAll properties have a title deed which denotes the owner of a property. During the construction and development phase, it is likely that an entire swathe of land will fall under a single “Master Title”.\n\nBut typically, multiple houses or apartment units would be built on the land and sold off individually. So ideally, the “Master Title” would be subdivided into multiple smaller titles before being sold to individual purchasers. For landed properties, these are known as “Individual Titles”. For high rise properties, these are known as “Strata Titles”. Once subdivided, to transfer ownership, a Memorandum of Transfer (MoT) would be filed at the Land Office. The purchaser’s name would appear on the title deed itself, making them the new rightful owner of the property.\n\nHowever, in practice, it is common for developers to sell the properties still on Master Title, and where subdivision may happen only many years later. In such cases, to buy/sell, instead of a MoT at the Land Office, a temporary Deed of Assignment (DoA) would be filed at the High Court. Based on the Master Title, the developer is still the rightful owner. However, the developer has “assigned all their rights” over individual parcels / units within the land over to the purchaser. Do note that once the individual / strata titles are out, the official transfer of ownership process (using the title deed) as described above will still have to take place as per standard practice.\n\nMaster Title\t                       Individual / Strata Title\nDeveloper is the rightful owner.       WHEN purchasing or refinancing a property in Malaysia, there are many different attributes (e.g. Lease, Subdivision, Land Type) the property can have. Each requires different treatment during the conveyance process, and can even affect your housing loan / mortgage application. This article debunks and summarises everything you have ever wanted to know about types of property attributes in Malaysia, and how it will affect your purchase and refinancing decisions.\n\nProperty attributes in Malaysia - Key things to look for\nFreehold vs Leasehold\nLeasehold land belongs to the state and is leased out to an “owner” for a number of years. Towards the end of a lease, owners are required to pay a fee to extend the duration of the lease. Freehold land on the other hand belongs to the owner (the purchaser) indefinitely.\n\nAdditionally, during a sale and purchase process, consent is required from state authorities (Land Office) before the transfer can proceed. The state can withhold approval for any number of reasons. Due to this additional step, it can take much longer to buy or sell a leasehold property.\n\nFor these reasons, freehold properties are usually more expensive than similar spec leasehold properties.\n\nLeasehold\tFreehold\nLand belongs to the state, leased to owner for a number of years\tLand belongs to the owner\nAt the end of the lease, owners must pay to extend the lease\tOwnership is indefinite\nRequires state consent (obtained at land office) to transfer ownership\tDoes not require state consent to transfer ownership (except in certain specially earmarked properties)\nMost banks will not finance a property if the lease has less than 30 years to go\tNo question of existing lease duration for home loans / mortgage\nSubdivision of Title\nAll properties have a title deed which denotes the owner of a property. During the construction and development phase, it is likely that an entire swathe of land will fall under a single “Master Title”.\n\nBut typically, multiple houses or apartment units would be built on the land and sold off individually. So ideally, the “Master Title” would be subdivided into multiple smaller titles before being sold to individual purchasers. For landed properties, these are known as “Individual Titles”. For high rise properties, these are known as “Strata Titles”. Once subdivided, to transfer ownership, a Memorandum of Transfer (MoT) would be filed at the Land Office. The purchaser’s name would appear on the title deed itself, making them the new rightful owner of the property.\n\nHowever, in practice, it is common for developers to sell the properties still on Master Title, and where subdivision may happen only many years later. In such cases, to buy/sell, instead of a MoT at the Land Office, a temporary Deed of Assignment (DoA) would be filed at the High Court. Based on the Master Title, the developer is still the rightful owner. However, the developer has “assigned all their rights” over individual parcels / units within the land over to the purchaser. Do note that once the individual / strata titles are out, the official transfer of ownership process (using the title deed) as described above will still have to take place as per standard practice.\n\nMaster Title\t                \nDeveloper is the rightful owner. Uses DoA lodged at high court to assign rights of a property over to a purchaser.\t\nA chain of Sale & Purchase Agreements (SPA) and DoA leading all the way back to the original sale must be used to prove latest ownership.\t\nMost banks will not finance a property if it is still on Master Title 10 years after completion.\t\n\nIndividual / Strata Title\nPurchaser is rightful owner. Uses MoT to change the owners name on the property. Name on property title deed is sufficient to prove latest ownership.title deed at the Land Office.\nNo issue with financing.\n\nMalay Reserve Land\nThere are certain properties which have “Malay Reserve Land” status (Note: This is not the same as “Bumi Lot” properties). These properties cannot be transferred to a non-Malay under any circumstances. And just as in Leasehold properties, state consent has to be given for transfer.\n\nConclusion\nIf you are intending to purchase or refinance a property, it is important to know the kinds of attributes your property has. Once you have ascertained the property you want to purchase, use this as a guide and our home loan comparison tool together to understand the kind of housing loan or commercial property loan you are able to obtain.\nUses DoA lodged at high court to \nassign rights of a property over to a purchaser.\tPurchaser is rightful owner. Uses MoT to change the owners name on the property title deed at the Land Office.\nA chain of Sale & Purchase Agreements (SPA) and DoA leading all the way back to the original sale must be used to prove latest ownership.\tName on property title deed is sufficient to prove latest ownership.\nMost banks will not finance a property if it is still on Master Title 10 years after completion.\tNo issue with financing.\nMalay Reserve Land\nThere are certain properties which have “Malay Reserve Land” status (Note: This is not the same as “Bumi Lot” properties). These properties cannot be transferred to a non-Malay under any circumstances. And just as in Leasehold properties, state consent has to be given for transfer.\n\nConclusion\nIf you are intending to purchase or refinance a property, it is important to know the kinds of attributes your property has. Once you have ascertained the property you want to purchase, use this as a guide and our home loan comparison tool together to understand the kind of housing loan or commercial property loan you are able to obtain.", "CreateDate": "2015-08-17T12:17:03.613", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm6.staticflickr.com/5660/20021468794_d5ffd7f632_m.jpg" }, { "InfoId": "aba049f8-9797-454a-a7a0-d9542c532b43", "Title": "Dealing with difficult tenants", "Source": "the star online", "Details": "Landlords these days also take risks when renting out property.\n\nA WHILE back, I wrote of the plight of tenants who are sometimes shortchanged on account of security of tenure. In many ways, a tenant may have settled himself in when the landlord tells him the tenancy can no longer be further continued.\n\nFor a tenant who is running a business, he may have just established himself and created goodwill for the business when he is asked to move and he would need to start all over again.\n\nFor a family man, he may have enrolled his children in a nearby school, arranged for tuition in the vicinity and made arrangements for himself to go to work.\n\nMoving to new premises means many changes.\n\nOf course, all this is part of being a tenant. A tenant must always be aware of his status as such.\n\nIn many such situations, it may appear unfair to the tenant especially when the tenant holds over because he cannot find another suitable premises and ends up paying double rent.\n\nTo a tenant who pays a monthly rental, it may appear that the landlord’s position is a pleasant one of just collecting rental every month and doing little else.\n\nHowever, the position of a landlord is not always an easy and pleasant one.\n\nIn fact, after my previous article on the challenges faced by a tenant, a reader wrote in to describe the plight of landlords with tenants who fail to pay the rent or damage the premises, creating problems for the owner.\n\nNot all landlords and tenants enjoy a cordial relationship. The most common problem is the collection and payment of rent.\n\nIn small towns or where the rented premises are nearby, the landlord can easily walk or drive over to collect the rent or to remind the tenant that it is due.\n\nIn larger cities, however, collecting rental where the tenant is not reliable and sincere can be a problem. Driving over to collect the rental or to remind the tenant may be costly.\n\nFurthermore, the tenant may not even be in when the landlord visits.\n\nAt the end of the day, the cost of travel and time may well diminish the effective rental collected. This, of course, cannot be the objective of renting out premises.\n\nIn other cases, a tenant in the beginning stage comes with cash to pay the deposit and the initial rental and then suggests that he would in future pay the amount into the landlord’s bank account.\n\nInitially, this may appear to be a suitable arrangement that would be convenient for both parties. However, it often transpires that when the landlord checks his account, the money is not there.\n\nFurthermore, the landlord will need to ascertain that the sum banked in is from the tenant because there may be a similar amount banked in by another party.\n\nHere again, cooperation is required from the tenant to send the bank-in slip or other evidence of payment, and this may not always be forthcoming.\n\nThe tenant may say he has banked in the amount but the landlord may not find it in his account. This is of no use to the landlord who wants to have the money in his account and does not want to be entangled in communications as to whether the money was banked in or not.\n\nThis is why many landlords today require tenants to give postdated cheques to cover a six-month or even a one-year period.\n\nIn this way, the landlord does not have to chase the tenant to collect the rental. As and when the due date arrives, and according to the date of the cheque, the same is banked in.\n\nIf the cheque bounces, there will also be consequences for the tenant. At the same time, there will be clear and reliable evidence that the tenant has defaulted in payment of rent if the cheque is not cleared.\n\nThis will come in useful if and when legal action is filed to recover the rent.\n\nWhere the tenant is in default of payment of the rental, what can the landlord do?\n\nThe only option is to take legal action to recover the rental as well as the premises if the tenant is still in occupation.\n\nAt the same time, a claim can be made to recover the cost of any repairs due to damage caused by the tenant.\n\nQuite apart from the fact that taking legal action has its disadvantages and inconveniences, it may be difficult to locate the tenant who has already vacated the premises.\n\nIn many cases, the address the tenant may have given and which may even appear on his identity card could very well be the address for the last premises he rented.\n\nTherefore, even if a summons is filed, there will be difficulty in serving it on the tenant, which is a prior step to move on with legal action. In this connection, it will be useful to have pre-agreed in the tenancy agreement how or where the summons may be served – by registered post or by leaving it at the premises referred to.\n\nIt would also be desirable to know exactly where and for what organisation the tenant works.\n\nThis is to facilitate locating him once he leaves the rented premises. But this again is no guarantee that one will always be able to reach a tenant or former tenant because he may change his job when he changes his residence.\n\nIn the present scenario, especially in parts of the country where mobility of individuals is high and frequent, there are further safeguards which landlords will want to explore.\n\nThis could include doing a credit check on the tenant or asking an acceptable third party to be a guarantor.\n\nOf course, engaging in all this may appear to be troublesome to some people for just renting out a property.\n\nThe idea is to do all that can be done to ensure what is due is collected or to have a loose arrangement where recourse to an effective remedy may not be available.\n\nGiven all the hassle that may be perceived to exist in the renting out of a property, the owner may prefer to just leave it vacant and wait for the value to appreciate!\n\nAny comments or suggestions for points of discussion can be sent to mavico7@yahoo.com. The views expressed here are entirely the writer’s own.", "CreateDate": "2015-09-10T16:26:27.597", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm1.staticflickr.com/682/21265023916_a45055ba15_m.jpg" }, { "InfoId": "a4e7c4c9-ce92-4308-a87a-d9e0b967f367", "Title": "看房子5大秘诀", "Source": "http://malaysia-hot-info.blogspot.my/2015/06/Tips-Housing.html", "Details": "大家在正式购买房屋之前，多数人会经历一个过程，那就是看房子的过程。这个过程非常的重要，因为这个过程将决定你购买的 是哪种房子。很多人看房子时都抱着只是看看的心态，其实这是不对的。在看房子时需要配合天时地利和人和。天时指的是天气，太阳等因素，地利是环境和人和是邻居。\n\n以下为看房子时必须注意的5大事项：\n1. 看房时带同伴随行\n看屋时，多带一位同伴，以帮你找出可能会遗漏的事项。很多时候自己太过兴奋所以会忽略一些小细节，这时同伴可以帮忙提醒和给予意见。\n\n2. 看房不只看一次\n看屋并不局限于一次，若喜欢，可以看第二次，或许可安排不同时间与氛围。看房的时候应该分3个时段来看，分别是早上、中午和傍晚时段，这样才能发觉阳光对房子的影响。有些房子在早上的时候特别凉快，在下午的时候异常炎热。有些甚至在下午的时候整个厨房被阳光照射，额外的装修工程可能会让你破费不少。\n\n3. 一天只看几间房\n看屋时，切忌过于躁进及尝试清除任何可能的疑虑。尽可能限制1天只看几间房屋，避免让自己进退两难。一天看太多房子反而会混乱看房子人的心态，可能因疲惫的关系而忽略了很多细节，造成错误的判断。\n\n4. 看房时随身携带笔记本或摄影机\n可在看房的时候记录房子的特点、方向、空间设计等，必要时使用摄影机拍下房子的结构。看房子时可以记录可能需要装修的项目。\n\n5. 范本屋不代表真实购买的房子\n看的房子是范本房屋，所以多数是已经装修并附上家具的房子。要切记，在看房子时，看的房子可能和真实购买后的房子有些出入。看房子时要分辨哪些是承包商装修的部分，哪些是房子原本的设计。\n", "CreateDate": "2016-02-10T21:32:41.97", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm2.staticflickr.com/1533/24641539610_66968afc81_m.jpg" }, { "InfoId": "e9e0257f-7cb1-4d8a-9db1-dad7fc7133b5", "Title": "Tenant Eviction : What You Need to Know", "Source": "property guru", "Details": "Evicting a tenant is not as simple as knocking on the door and telling him he’s got to pack up and go. There is a process you must adhere to that will make the eviction both legal and necessary to be obeyed.\n\nGiven how messy the entire situation can get, we’ll list a few things to help you, landlord or tenant, to better understand the process and the expected outcomes;\n\n1. Contract: This is the most logical and basic of things to do and yet you’ll be surprised by how many landlords and tenants alike fail at establishing a legally binding relationship. Having a contract protects the tenant from being bullied by the landlord and it protects the landlord from a tenant that refuses to follow the rules. So the first thing you need to check is that you have a contract with a section that legally states your rights and what the processes are in the event of an eviction.\n\n2. Eviction notice: If the tenant has defaulted numerous times on what was agreed upon in the contract/tenancy agreement, then the eviction notice can be issued in accordance with that same agreement. It must however, include a grace period so the tenant can make plans to pack and leave and also to do an official handover of all the items included in the apartment and make full payment of overdue rent.\n\n3. Eviction order: If the tenant refuses to move and remains in the apartment or premises after the notice date expires, then you, as the landlord, can file an eviction order in court against the tenant for outstanding rental, double rental (you can claim double rental if the tenant remains past the due date) and recovery of the premises and all possessions belonging to you therein.  Be warned though that an eviction order could take anywhere from three to six months at the Sessions Court and would cost you RM7,000 to RM25,000. If the tenant contests the summons, then the cost would be higher.\n\nSelf-help Measures\nThere are instances where the tenant, upon leaving the premises without informing the landlord, brings up charges of a civil suit against the landlord for breaking the lock.\n\nThis is a strange circumstance since the landlord, while clearly within his rights to repossess the apartment, is not allowed to break into his own apartment if the tenant left a lock on it.\n\nIn such cases, the tenant could have either forgotten or did it out of spite. If calling the tenant to unlock the apartment fails, the landlord must then lodge a police report and break the lock in the presence of a police officer and an independent witness to avoid such a law suit.\n\nUpon entering the premises, the landlord should take as many photos of the interior and of all properties to protect himself from any false claims by the previous tenant on grounds of property abuse.\n\nNext, place a notice on the door of the property informing the tenant to contact the landlord if they wish to collect their possessions. Include a photocopy of the police report also to show that the premises were entered legally and also as a deterrent for the tenant to make a frivolous report.\n\nIt is important to note that although the tenant was evicted, the landlord cannot legally remove their possessions without the tenant’s permission or they risk being embroiled in legal issues in court.\nIf such a situation arises, it is always best to lodge a police report first and seek legal assistance before reacting.", "CreateDate": "2015-07-21T11:58:32.53", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm1.staticflickr.com/532/19253456134_fb8481fa8b_m.jpg" }, { "InfoId": "6c8317e1-ab04-4ecc-a700-dc78bbbb0358", "Title": "What you need to know about Real Property Gains Tax", "Source": "the edge property", "Details": "Real estate investors in Malaysia are very alert to any change in Real Property Gains Tax (RPGT), especially during October, when the national budget is tabled in parliament. That’s because RPGT could be the deciding factor in deciding whether to sell now or later. Since 2007, we have seen a gradual increase in the RPGT rate, from as low as 0% to as high as 30% as announced in Budget 2014. Thankfully or not, there’s not been any adjustment to the rate since but there’s still important stuff about RPGT you need to know.\n\n1. How much tax do I have to pay?\nAny vendor who sells their property is required to pay RPGT. The Finance Act 2014 sets out the current prescribed tax rate as follows. (See, table)\n\nrefer to picture above\n\n\n2. What is the 3% of disposal price?\nAs of Jan 1, 2015, the seller or seller’s lawyer acting on behalf of the seller shall retain and pay 3% of the disposal price to the Inland Revenue Board (IRB).\n\nThis is applicable when the seller is disposing of the property within five years of signing the sale and purchase agreement. Companies and foreigners are liable to pay the 3% regardless of when they dispose of the property. \n\nSale and purchase agreements usually contain a clause to cater for RPGT, which states clearly that both seller and purchaser are to submit their respective Forms CKHT 1A and 2A to the IRB upon payment of the 3% retention sum within 60 days of the date of the sale and purchase agreement.\n\nBased on Form CKHT 1A submitted by the seller, the IRB will then assess the requisite RPGT chargeable and refund the balance of the 3% retention sum (if any) to the seller. \n\nIf the seller is an individual selling the property after five years, the seller or seller’s lawyer will file Form CKHT 3 to apply to be exempted from the 3% retention sum payment.\n\nIt is worth noting that all Malaysians and permanent residents are entitled to a one-time exemption from the 3% retention sum payment when disposing of their private residential property.\n\nThere is no requirement that this entitlement must be exercised on your first-ever property disposal, thus you can decide to use the exemption for any future disposal. However, you must inform your lawyer of such an intention before the sale and purchase agreement is drafted. \n\n\n3. How do I calculate chargeable gains and allowable losses?\nLet’s say the price of your property has gone way up, and you now want to sell, but it’s not yet been five years since you signed the sale and purchase agreement. How does the IRB assess the RPGT chargeable gain? Or, heaven forbid, you have to sell, but the price has dropped. There are three scenarios under the RPGT regime:\n\na)     if the disposal price exceeds the acquisition price, there is a chargeable gain;\nb)     if the disposal price is less than the acquisition price, there is an allowable loss; and,\nc)     if the disposal price is equal to the acquisition price, there is neither a chargeable gain nor allowable loss.\n\nThus, where there is a chargeable gain upon disposal of any real property, then RPGT is applicable according to the rates in the table above. However, in calculating chargeable gain, the seller is allowed to deduct from the chargeable amount certain expenses as follows:\na)     the cost of preserving and improving the value of the property upon acquisition;\nb)     the cost to confirm, preserve and defend the ownership of the property; and,\nc)     incidental costs during the sale of the property, including legal fees, commissions to real estate agents and other expenses.\n\nWhere there is an allowable loss, tax relief is allowed to the seller for that year of assessment in an amount equal to the sum arrived at by applying the table above.\n\n\n4. When can I get a refund?\nIf the 3% retention sum paid by the seller to IRB is in excess of the RPGT payable, then the IRB must refund the seller the excess amount. This refund may not take place instantaneously and depends on the efficiency of the seller’s IRB branch. The norm is for the seller to receive a cheque for the refunded amount in the postbox.\n\n\n5. What if I calculate my payable tax wrongly?\nThe lawyer overseeing the sale and purchase agreement between seller and buyer will normally charge a nominal fee to file their respective CKHT forms.\nWhile seller and purchaser can save costs by filing the forms themselves, bear in mind there is a penalty for making incorrect returns.\n\nThis can happen if you omit particulars relating to any disposal of chargeable assets; miscalculate the chargeable gains; or overstate the allowable loss.\nThe penalty is a fine not exceeding RM5,000, and a special penalty of double the amount of the tax which has been undercharged.\n\nThere were no adjustments to RPGT rates for Budget 2016, so investors can now better plan and calculate whether their return on investment will justify selling their property because prices are no longer appreciating as vigorously as a few years back.\n \n\n\nChris Tan is a lawyer, author, speaker and keen observer of real estate locally and abroad. He is founder and managing partner of Chur Associates. If you have questions for Chris Tan, please go to the Tips section of theedgeproperty.com. Disclaimer: The information here does not constitute legal advice. Please seek professional help for your specific needs.\n\nThis article first appeared in The Edge Property pullout on Nov 6, 2015, which appears every Friday with The Edge Financial Daily. Download The Edge Property pullout for free here. ", "CreateDate": "2015-11-07T16:41:40.153", "UpdateDate": null, "StatusDelete": 0, "PropertyURL": "https://farm6.staticflickr.com/5750/22655734340_56f18d40ce_m.jpg" }];

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